Lighthouse at Oyster Bay Is Now Open
The Lighthouse at Oyster Bay, St. Maarten’s newest privately owned luxury condominiums, and the Pavilion, a 40-unit timeshare building is now open.
TODAY’S DEAL: Cushman & Wakefield Arranges $43M Sale of 2 Atlanta Properties
Cushman & Wakefield has completed the sale of two suburban Atlanta properties: Madison at River Sound, a 586-unit apartment complex located in Lawrenceville, and Covington Glen, a 254-unit apartment complex located in Decatur.
MULTI-HOUSING EXECUTIVE UPDATE: MBA Names Brad Cheney and Pace Bradshaw as Directors of Legislative Affairs, and Other Moves
The Mortgage Bankers Association (MBA) has appointed Brad Cheney as director of legislative affairs and has also promoted Pace Bradshaw to director of government affairs.
GUEST COLUMN: Multifamily Property Management—Truly a New Paradigm
October 08, 2009 – Fifteen years ago, we were in the midst of the last big recession. Then, as now, the crisis was caused both by the general economy as well as illiquidity in the financial markets. Today, however, the multifamily sector is light years ahead of where we were in the last go-around. This time, the major players in our sector, mostly REITs, are fueled by stable capital structures, but, more importantly, by operating platforms with a scale and sophistication unimaginable fifteen years ago.
Estrie Introduces Larger LEED-Certified Tiles
Estrie’s LEED (Leadership in Energy and Environmental Design)-certified Viera is now available in an 18” x 18” size tile.
Back from the Brink
Just a few months ago, the Midwest was making headlines nearly every day, with reports of the auto industry on the verge of collapse. It was no wonder, then, that Detroit’s unemployment rate was the highest in the nation, and industry experts reported that the future of multi-housing in the city depended on whether General Motors and Chrysler survived. Now, with the two major auto companies coming out of bankruptcy, some optimism and stability have returned to the marketplace, reports Kevin Dillon, associate partner in Hendricks & Partners’ Birmingham, Mich. office. The pace of “job losses has declined in the…
Market Statistics for October 2009
Multifamily Starts: Multifamily starts for buildings with more than five units remain volatile. At 115,000 units at an annual rate—up from the previous month’s 85,000 units—it does read as a slight improvement. But it is nowhere near the 200,000-300,000-unit levels of 2007—a level that most agree would be necessary to produce multifamily housing adequate to future demand. The best that can be said for multifamily starts at this point is that they have appeared to hit bottom at around 100,000 starts (their average for the last three months). Starts are likely to continue to fluctuate around this number for the…
HeatTrak’s Heated Walkway and Stair Mats Reduce Risk of Slip-and-Fall Injuries
HeatTrak has developed a product line of walkway and stair mats in a variety of standard dimensions that helps melt snow and ice thereby preventing accidents caused by slipping.
Q&A with Jack Perlman: Escrow Provides a Sense of Security for Investors in Mexico
Jack Perlman is a real estate developer in Playa del Carmen (main beach town in the Riviera Maya region, by the Caribbean Sea) and owner of Condo Hotels Playa del Carmen. Perlman is opening a fifth luxury condo called El Taj Condo Hotel (pictured) this January, as well as an upscale beach club.