News
TODAY’S DEALS: AFL-CIO Provides $33M for Minneapolis Construction
The AFL-CIO Housing Investment Trust provides $33 million for the construction of an apartment community; NorthMarq Capital negotiates a $34.5 million life company loan allowing for rate lock during the lease up period; and CBRE/NE arranges $16.1 million for a Massachusetts asset.
NYSERDA Announces Funding Opportunity for Multifamily Heating Improvement Measures
The New York State Energy Research and Development Authority has announced that $1.2 million in funding has been set aside to assist multifamily buildings in implementing improvements to heating systems.
Upgrade Your Elevator Experience with KONE’s Destination Control System
As technology comes to play an ever increasing role in our day-to-day lives, you should expect touchscreens to show up with increased frequency in the places we call home.
Craig M. Robinson Joins Colliers as President
Colliers International announced that commercial real estate veteran Craig M. Robinson will take the reins as president of Colliers’ U.S. business, a newly created position.
Trending on Twitter: Bozzuto Awards Make a Splash
This year, Bozzuto’s hashtag for its awards reception organically trended on Twitter. MHN talked to Alex Middel, Bozzuto’s digital media strategist about how they accomplished this.
LandSouth Construction Completes Multifamily Developments in FL and NC
LandSouth Construction has completed two new apartment communities: Lost Lake Resort Apartment in Jacksonville, Fla., and Phillips Research Park in scenic Durham, N.C.
Economy Watch: Fannie Mae Delinquencies Still Falling
Fannie Mae reported that its single-family serious delinquency rate declined from 2.33 percent in January to 2.27 percent in February.
Bascom Buys Vegas Multifamily for $22M
California-based Bascom Group has acquired Chapel Hill, a 222-unit garden apartment property at 9620 W. Russell Rd., Las Vegas, for $22.47 million.
Passco Acquires Class A Community in Raleigh, NC
Passco Companies has announced the acquisition of Carrington at Brier Creek for $37.3 million. The purchase of the Class A, 270-unit luxury garden-style community was on target for the company’s ongoing strategy to acquire high-quality core assets in high growth areas outside of primary markets.
Cristi Resciniti Promoted to CFO at Pennrose Management Co.
Cristi Resciniti, CPA, has been promoted to chief financial officer at Pennrose Management Co.