Two Harlem Condo Projects Revived
New York–The Lore and the Gateway, two condominium projects in Manhattan’s Harlem neighborhood that had been stalled because of problems with their financing, have been restructured and recapitalized
Campus Advantage Promotes Duckett to Chief Business Development Officer and EVP
Austin, Texas–Campus Advantage has promoted Scott Duckett to chief business development officer (CBDO) and executive vice president. As the CBDO, Duckett oversees the company’s business development, market strategy and investor services. Prior to his promotion, he was senior vice president of professional services. He joined the company in 2005 as the director of business development. “Duckett has been instrumental in building our industry-leading higher education development services,” says Mike Peter, president and CEO of Campus Advantage. “We are in a strong position to take advantage of a recovering investment landscape and robust student housing prospects.”
Distressed Properties Can be Profitable, But Pose Booby Traps for Unwary
New York–Distressed means being exceptionally careful about numbers associated with a property.
Developer and Workout Specialist Team Up in NYC
New York–Enough multifamily projects in the city were either caught unfinished or otherwise pummeled by the economic crisis beginning in 2008 that there’s now a specialized real estate business based on reviving these projects.
LeasingDesk Introduces Event Liability Insurance for Residents
Carrollton, Texas–LeasingDesk has announced the availability of special event liability insurance for residents who host one-day gatherings in property clubhouses or at other local off-site locations. “This affordable liability protection is designed to provide protection to the resident and the property owner that a standard renter’s policy does not provide,” says David Carner, president of LeasingDesk. “We believe liability protection will soon become a requirement for many properties any time the clubhouse is rented, because it offers protection to the owner and the resident and the cost is not prohibitive.” Offered through eRenterPlan, which specializes in insurance products for apartment…
Two Harlem Condo Projects Revived
New York–The Lore and the Gateway, two condominium projects in Manhattan’s Harlem neighborhood that had been stalled because of problems with their financing, have been restructured and recapitalized
Fortress Funds to Purchase CW Financial Services
New York–Affiliates of certain Fortress managed funds have agreed to acquire CW Financial Services (CWCapital). Fortress has agreed to acquire CWCapital from majority shareholder Otéra US Holding Inc. Terms of the transaction were not disclosed but the CW Capital franchise includes a $183.6 billion servicing, special servicing and investment management portfolio. Closing of the transaction is expected during the third quarter subject to regulatory approvals and closing conditions. Beekman Advisors, Inc. served as advisor to CWCapital. Founded in 1972, CWCapital manages, invests in, originates, and advises on commercial and multifamily real estate debt products.
Gift Cards Popular as Apartment Leasing Incentives
New York–Recession, more renters have been demanding them and more landlords have been obliging, even if they don’t always advertise the fact.
Waterfront Condos in Philly Go on Market at 40% Discount
Philadelphia–It’s a buyers’ market right now and these condos are selling for a huge discount.
Camp Lejeune MF Units Fit With Massive Solar Thermal System
Camp Lejeune, N.C.–Solar thermal technology is the most cost-effective solar energy technology.