Business Specialties
AKA Flexible-Stay Apartment Properties to Get $10M Makeover
New York–Korman Communities, owner of the AKA portfolio of flexible-stay apartments, is submitting four of its properties to upgrades at a total cost of $10 million.
U.S. Army and SunCal Ink Development Deal
Dublin, Calif.–The U.S. Army Reserve and private developer SunCal Cos. have signed a Reserve Property Exchange Agreement that will see the developer build new military facilities at Camp Parks Reserve Forces Training Area.
Pool of LEED-Certified Homes in the U.S. Surpasses 10,000 Mark
Washington, D.C.–The U.S. Green Building Council recently announced that more than 10,000 residential properties in the country have earned Leadership in Energy and Environmental Design designation through the organization’s three-year-old LEED for Homes Program.
Home Properties Breaks Ground on Fredericksburg Apartments
Fredericksburg, Va.–Home Properties Inc. has broken ground on the Apartments at Cobblestone Square in Fredericksburg, Va. The new property will feature eight four-story buildings totaling 302 one- and two-bedroom apartments and a refurbished 100-year-old rail depot.
ARA’s Dallas Office Adds Former Milestone Executive to Brokerage Roster
Dallas–Atlanta-headquartered ARA announces the addition of Richard Furr to ARA’s Dallas brokerage office. Furr will lead the Private Client Services team, specializing in product located throughout the Metroplex. Previously, Furr was head of acquisitions and a member of Milestone’s Investment Committee. Prior to that, he was an acquisition partner and divisional senior vice president at JPI. He has been responsible for over $1 billion of multifamily transactions throughout his 20-year career. Furr is a graduate of Texas Tech University and received his master’s degree in Land Economics and Real Estate from Texas A&M University.
Realfacts and Meyers LLC Strategic Partnership
Novato, Calif.—Realfacts and Meyers LLC have announced a strategic partnership to position itself as the preeminent source of information to the apartment industry. Together, they will provide a variety of services to meet the growing need for reliable data coupled with interpretive data analysis. The two entities lend 50+ years of experience in building successful businesses with respected brands. The partnership is a strategic alliance geared to comprehensively examine apartment markets as that sector gains momentum. Recent increases in demand and occupancy paint a healthy picture for apartment owners and investors in the next two years. Meyers and RealFacts each…
RENTCafé Internet Listing Service iPhone App Now Available
Santa Barbara, Calif.— Yardi announced today the launch of its RENTCafé.com iPhone application, which enhances the mobile dimension of the RENTCafe.com Internet listing service platform. The RENTCafé iPhone app was made available at Apple’s App Store on March 23. In the first two and half weeks of its deployment the RENTCafé iPhone app generated nearly 4,500 downloads and more 230,000 page views from users in more than 900 cities. Each user visited an average of 22 pages, and more than half revisited the site. The RENTCafé iPhone app has quickly gained traction in many major metropolitan areas, with high usage…
Bridge Housing Breaks Ground on Sacramento Affordable Housing
Sacramento–Bridge Housing, a nonprofit affordable housing specialist, has broken ground for Foothill Farms Senior Apartments in Sacramento. The property will feature 138 affordable apartments and community space in four buildings, with a slated completion in July 2012.
New Online Resource Helps Property Managers Hire Contractors
A directory of verification tools helps rental managers ensure they hire licensed and insured workmen.
DeBartolo Breaks Ground on Luxury Apartment Project in Daytona
Daytona, Fla.–A site in Daytona that was once destined to sprout a retail center is now on its way to becoming home to Andros Isles Apartments, a 360-residence luxury rental property.