Michael D. Berman, CMB, Sworn in as MBA Chairman
Atlanta–Michael D. Berman, CMB, president and CEO of CWCapital in Needham, Mass., was sworn in as the 2011 Chairman of the Mortgage Bankers Association (MBA). As chairman, a top item on Berman’s agenda is for MBA to continue to play its leadership role in redesigning the government’s role in the secondary mortgage market. Berman is a founder and member of the Board of Managers of CWFinancial Services. He joined the CW companies in 1985. Under Berman’s direction, CWCapital first entered the national lending business in 1991. Since then, annual loan production has grown from $100 million to $2.3 billion. CWCapital…
Property Tours: 88 Leonard
Kristen Mayer, Leasing Manager at 88 Leonard in Tribeca takes MHN on a tour of the luxury property.
Apartment Market Weathered ’09 Reasonably Well: IREM
Chicago–Though the apartment industry has seen better years, 2009 wasn’t a terrible one in a number of ways for the industry, according to a new benchmarking study published by the Institute of Real Estate Management (IREM).
Walters Group Project Wins Governor’s Excellence in Housing Award
Atlantic City, N.J.–Stafford Park Apartments, developed by Walters Group, won the Governor’s Excellence in Housing Award from the New Jersey Department of Community Affairs (DCA) and New Jersey Housing and the Mortgage Finance Agency (HMFA). The residential project won in the category of Outstanding Affordable Housing Development. The annual award ceremony recognizes individuals and organizations that meet state needs and current housing goals. Stafford Park Apartments was recognized for its innovative concept and design. “Once a site for serious environmental issues, we built Stafford Park Apartments to be sustainable, have aesthetic qualities and be affordable for the families who live…
DEAL OF THE DAY: NorthMarq Arranges $10.35M in Capital Markets, Early-Rate-Lock Execution
Lakeside, Calif.–NorthMarq Capital completed a first mortgage financing of $10.35 million for Stoneridge Apartments, a 132-unit multifamily property located at 12840-12854 Mapleview Street in Lakeside, Calif.
Multifamily Starts Up From Last Year, But Still Sluggish
Washington, D.C.–Housing starts edged upward unexpectedly in September.
Video Interview with Thomas P. Deyo
MHN interviews Thomas P. Deyo, Dep. Director Real Estate, NeighborWorks America about the high cost of capital and other challenges faced by non-profit developers.
Lenders Still Lending for Apartments, But at Much Lower Volume
Washington, D.C.–The Mortgage Bankers Association reports that aggregate lending for financing apartment properties nationwide shrank about 40 percent in 2009 compared with 2008.
Condos Lead NYC Residential Rebound
New York–New York’s residential sales market, led by condos and cooperative apartments, continued its rebound during the third quarter of 2010.
Joe E. Greenhaw Jr. Joins Cohen Financial’s Loan Administration As EVP
Chicago–Cohen Financial recently appointed Joe E. Greenhaw, Jr. as executive vice president of its Loan Administration department. Along with partner and executive vice president Tim Mazzetti, and partner and executive vice president Dean Wheeler, Greenhaw will lead the strategic expansion of the firm’s asset management and special servicing business. Prior to this appointment, Greenhaw was at Prudential Asset Resources where he served as vice president for four years and was involved in the management of a $66 billion servicing portfolio comprised of balance sheet, CMBS, Fannie Mae, FHA, Freddie Mac and third-party loans. During 2010, Greenhaw was focused on Prudential’s…