Brad Brown Joins Cortland Partners as Chief Acquisitions Officer
Atlanta–Brad Brown has joined Atlanta-based multifamily real estate firm Cortland Partners as chief acquisitions officer. “Brown has more than 20 years direct experience in multifamily acquisitions and dispositions, handling more than $1.2 billion worth of transactions involving more than 200 rental communities,” says Cortland Partners president Steven DeFrancis. “He has the skills we need as we aggressively pursue new deals.” Brown has in-depth knowledge of several key markets throughout the Southeast; Washington, D.C. metro area; Texas and Colorado. Before joining Cortland Partners, he headed the real estate investment division of Southeast Capital, where he was a senior partner. He previously…
Combined Wells Fargo-Wachovia Top U.S. CRE/Multifaily Loan Server, Notes MBA Survey
Washington, D.C–According to the mid-2010 survey of commercial and multifamily mortgage services by the Mortgage Bankers Association, Wells Fargo (including Wachovia) tops the list firms of master and primary servicers in the U.S. $462.8 billion in loan volume.
Hayden & Associates Appoints Two to Management Team
Fort Myers, Fla.–Hayden & Associates recently appointed Bonita and Jay Vandall to its management team. Bonita Vandall has been a licensed community association manager since 1988 and holds several designations from the Community Association Institute. She has also served on the board of the South Gulf Coast Chapter of the Community Associations Institute for six years and was named Manager of the Year for 2001. Ken Hayden, president of Hayden & Associates, says, “Bonita’s focus will be developer controlled communities and new business development and Jay will continue to provide his expertise with community and maintenance management services. Prior to…
Court Allows Receiver to Sell Abandoned Arizona Apartment Portfolio for $123M
San Diego–Maricopa County (Ariz.) Superior Court Judge Eileen S. Willett has ruled that San Diego-based Trigild can sell seven Arizona apartment properties that it currently holds in receivership.
MyNewPlace Names Gary Parkhurst as VP of Sales
San Francisco–Gary Parkhurst has been appointed as the new vice president of sales at MyNewPlace. In this role, Parkhurst will provide strategic leadership to the sales team and facilitate new business in an effort to increase revenue by driving sales through the company’s core listing products on MyNewPlace.com. Throughout his career, Parkhurst served in a variety of executive sales and marketing roles at a range of organizations. Most recently, Parkhurst served as senior vice president for ELM Resources, a non-profit, mutual benefit corporation serving the student loan industry. In his role, Parkhurst planned and executed a high-growth sales strategy which…
Moore Design Group Creates Boutique Hotel Atmosphere for The Carlton in Houston
The multifamily industry is feeling the effects of increased competition. Smart money is placing its bets on creating opportunity through cosmetic improvements.
REIT Execs Did Well During ’09, Notes SMG Survey
New York–In an indication that the REIT industry is faring somewhat better than real estate as a whole, total compensation levels within the REIT realm, including multifamily specialists, increased in 2009 by a median of 3 percent to 15 percent, depending on employee level.
MVE Adds 24 Employees, Including Two Director Level Positions
Irvine, Calif.–MVE & Partners has added two key director-level positions with the recent appointments of Sylvia Avendano as business development director, and Erin Gebo as director of human resources. The new hires are part of a broader staffing increase at the firm and its affiliate, MVE Institutional, adding 24 professionals across various departments. It is the second round of hiring this year, building on an earlier staffing expansion that boosted the companies’ ranks by 13 employees. “We are continuing to experience increased demand from clients for architecture and master-planning services on both domestic and international projects,” says Richard Emsiek, AIA,…
Residential REIT Pursues Sustainable Initiatives for Portfolio
Rochester, N.Y.–Home Properties, a REIT that specializes in apartment properties in the northeastern U.S. and the mid-Atlantic, has unveiled portfolio-wide initiatives to improve the energy efficiency of its properties.
NAI Las Vegas Merges Operations with The Sauter Cos.
Las Vegas–NAI Las Vegas has entered a partnership with The Sauter Cos. to merge staff and services and operate as NAI Las Vegas. The Sauter Cos. brings more than 40 years of commercial real estate experience in the Las Vegas market to the partnership, expanding NAI Las Vegas’ service offerings in multifamily brokerage. The Sauter Cos., founded in 1988, is based in Summerlin, a master planned community in Las Vegas. The firm has realized more than $1 billion in multifamily transactions over the last decade for properties across the local Las Vegas market. Under the terms of the merger, The…