Paramus, N.J.–Vornado Realty Trust has completed a $260 million refinancing of its River House Apartment Complex, located in Washington, D.C. This financing is comprised of a $196 million interest-only seven-year 5.43 percent fixed-rate mortgage and a $64 million interest-only 10 year floating rate mortgage at the Freddie Mac Reference Note Rate plus 1.53 percent (4.36 percent at closing).The 1,670-unit three-building apartment complex was part of Vornado’s acquisition of H Street Building Corp., completed in April 2007. With this financing and proceeds from a contractual land sale scheduled to close this year, Vornado’s total investment in H Street will be $409…

Atlanta–LeasingDesk Insurance Services along with American Modern Insurance Group, the major underwriter of its liability and renters’ insurance policies, are expediting the claims process for its 47 policyholders living at the Fulton Cotton Mill Lofts, impacted by the deadly tornado in Atlanta last Saturday.The Fulton Cotton Mill Lofts, located in Cabbage Town, two miles east of downtown Atlanta, were severely damaged, destroying personal property and displacing some residents. “Considering the magnitude of damage to the community, it is very fortunate no one was seriously injured,” says Dirk Wakeham, president of LeasingDesk. “Our immediate priority is to take care of our…

Enterprise Appoints New Officers in Capital Markets, Structured Finance and Tax Credit SyndicationColumbia, Md.–Enterprise Community Investment Inc. has appointed four new officers in Capital Markets, Structured Finance and Tax Credit Syndication.Kari R. Fitzpatrick (pictured) was elected as vice president of Investment Management–Capital Markets, Bill Ostrye will be vice president of Fund Analysis–Capital Markets, Tom Eastman is the new vice president of Tax Credit Syndication and John Ducey will be the vice president of Structured Finance.Fitzpatrick was named director and head of Investment Management in 2007. In this role, she maintained and augmented key investor relationships as well as managed and…

Foxboro, Mass.–The Environmental Protection Agency (EPA) has filed an administrative complaint against Daniel J. Lynch and Grace K. Lynch, seeking a $20,600 civil penalty for failing to notify tenants about potential health hazards from lead paint at their residential units in Foxboro, Mass. According to EPA’s complaint, Daniel J. Lynch and Grace K. Lynch failed to provide renters on their property with lead warning statements and lead hazard information pamphlets and for failing to disclose whether they had knowledge and records or reports pertaining to potential lead-based paint hazards. The complaint alleges that the Lynches failed to comply with the lead…

Washington, D.C.–The Bush administration said it is not currently negotiating with congressional Democrats on a proposal to reduce the housing slump with government funds, Bloomberg reports.However, Treasury Secretary Henry Paulson is “sympathetic” to the government-insured mortgage proposal by Senator Christopher Dodd and Congressman Barney Frank, according to Senator Charles Schumer, a New York Democrat.Lawmakers have suggested the federal government pay to help struggling homeowners rework their loans, which would be an extension of Paulson’s voluntary mortgage lender agreement.However, both a Treasury official and a White House spokesman denied that the administration is open to accepting any proposals.

Boston, Plymouth, Minn., Houston–NorthMarq Capital’s Boston regional office recently arranged construction financing of $5.8 million for The Bluffs Apartments in Lewiston, Maine. The company arranged this loan for the borrower, Randall Road Associates LLC, through its relationship with Commerce Bank & Trust Co.When completed, The Bluffs Apartments will consist of 11 buildings, with a total of 65 two-bedroom townhouse-style apartments and an average area of 1,120 sq. ft.The Minneapolis regional office of NorthMarq recently arranged first mortgage financing of $6.6 million for Fernbrook Townhomes, located in Plymouth, Minn. Financing for the 72-unit multifamily property was based on a 10-year term…

By Anuradha Kher, Online News EditorNew York–The senior citizen residents of 450 West 131st St. today celebrated the opening of Logan Gardens, the formerly distressed apartment building that has been transformed by CATCH and Enterprise into affordable homes for senior and disabled citizens.The opening event celebrated the late Dr. Arthur C. Logan, a well-known civil rights champion, surgeon and personal physician to such luminaries as Dr. Martin Luther King and Duke Ellington. Logan led New York City’s poverty programs during the 1960’s as chairman of the Council Against Poverty.Logan Gardens was originally rehabilitated in 1985 through the Federal Section 202…

New York–Artisan Lofts, the luxury loft condominium development under construction at 143 Reade St., has unveiled its model unit. Intérieurs, the New York-based interior design firm under the aegis of founder and designer Francine Gardner, has designed the 2,700-sq.-ft. loft featuring three bedrooms, a home office, three-and-a-half baths and a balcony.  The unit includes 12-ft.-ceilings, original columns, and a kitchen cabinet clad with walnut and blackened steel. The unit also features handcrafted mesh and metal lighting by Jose Esteves and art by the Tribeca gallerist, Cheryl Hazan. Artisan Lofts features 38 residences ranging in size from 1,860 to 3,374 sq. ft. The…

North Haven, Conn.,–The Connecticut Association of Realtors Inc. has launched CTreal.com, a Web site that enables searches of more than 31,000 multifamily and commercial properties as well as homes and land, offered for sale or rent in towns throughout the state of Connecticut.CTreal.com carries the listings of more than 13,000 members belonging to Connecticut Multiple Listing Service Inc., (CTMLS) which developed the site and administers it. CTMLS is Connecticut’s only statewide MLS and was founded with the sponsorship of the Connecticut Association of Realtors Inc. There is no login required and searches are for free.CTreal.com allows users to search listings,…

Washington, D.C.–The FCC recently banned carriers from entering into exclusive contracts to provide telecommunications services in residential apartment buildings, and prohibited enforcement of existing contracts that contain exclusivity provisions. Jim Arbury, senior vice president of Government Affairs for the National Multi Housing Council (NMHC)/National Apartment Association (NAA) Joint Legislative Program said in response, “This is just the latest in a series of misguided attempts by the FCC to manufacture competition through regulation instead of forcing the telecom firms to compete for new business. They reveal the FCC’s continued lack of understanding about how the multifamily telecommunications market actually works.”The FCC…