Jessica Fiur is the editor-in-chief at Multi-Housing News and Commercial Property Executive and writes the award-winning blog What Renters Want.
Jessica has been with the company since 2011 and previously was with Weekly Reader and IQPC. Contact Jessica at jessica.fiur@cpe-mhn.com, on Twitter @jfiur or on LinkedIn https://www.linkedin.com/in/jessicafiur/.
Economy Watch: Foreclosed Properties Still About One-Third of Residential Sales
According to RealtyTrac’s second quarter 2011 U.S. Foreclosure Sales Report, which was released on Thursday, the sale of houses in some stage of foreclosure accounted for 31 percent of all residential sales during the quarter. That’s a drop from the first quarter of this year, when the total was 36 percent, but more than the same quarter a year ago, when the total was 24 percent.
Bonaventure Realty Group Names New Director of Property Management
Bonaventure Realty Group LLC, multifamily real estate company, announced that Christina Bolter has just been named director of property management.
USAA-JLB JV Breaks Ground on Atlanta Apartments
Atlanta–A joint venture between USAA Real Estate Co. and JLB Partners L.P. has broken ground on Buckhead Village, a multifamily property in Atlanta. When complete, the property will feature 373 units in four- and five-story buildings totaling about 345,200 square feet, along with 583 parking spaces.
MBA Releases 2011 Mid-year Commercial/Multifamily Servicer Rankings
Washington, D.C.–The Mortgage Bankers Association released its mid-year ranking of commercial and multifamily mortgage servicers as of June 30, 2011.
Architectural and Design Firm CetraRuddy Goes International
New York–CetraRuddy Inc., an architectural and design firm, recently opened an international division. Over the past three years, the firm has successfully attempted expansion in India and Great Britain.
The Praedium Group Buys Half a Billion in Assets in First Half of 2011
New York–The Praedium Group has been in a bit of a buying frenzy. Acting through The Praedium Fund VII L.P., the New York City-based national real estate investment firm snapped up assets, predominantly multifamily, valued at an aggregate $500 million in the first six months of 2011.
Marcus & Millichap Promotes Levin, Leeson to Vice President Investments
The board of directors of Marcus & Millichap Real Estate Investment Services has promoted Adam Levin and Tyler C. Leeson to the position of vice president investments.
Economy Watch: CBO Predicts Amelioration of Long-Term Deficits
The nonpartisan Congressional Budget Office said that the short-term outlook for the U.S. budget deficit isn’t particularly good, but the longer-range forecast is better than expected. At 8.5 percent of GDP, the $1.3 trillion budget deficit that the CBO is projecting for 2011 will be the third-largest shortfall in the past 65 years, exceeded only by the deficits of the preceding two years.
Centerline Capital Group Hires New Corporate Marketing Communications Head
New York—Centerline Capital Group, a provider of real estate financial and asset management services for affordable and conventional multifamily housing, announced that Brent Feigenbaum has jointed Centerline to head its corporate marketing communications and investor relations departments. Feigenbaum will be reporting to President and CFO Robert L. Levy. In his new role, he will focus on raising Centerline’s viability by elevating its marketing, public relations and investor relations initiatives, as well as enhancing the firm’s overall internal employee communications. Feigenbaum, a 25-year veteran in strategic marketing communications, is a noted expert in developing high-impact integrated marketing communications programs in the…
Amid Economic Gloom, Investors Keen for Multi-Housing Properties
U.S. multifamily investment sales have spiked thus far during 2011, reaching $13.9 billion during the second quarter of 2011, or more than half again as much as the first quarter 2011 total of $9 billion.