News
Crescent Breaks Ground on Downtown Orlando Community
Work has started on Crescent Central Station in downtown Orlando. Developer Crescent Communities says the 279-unit TOD apartment community will be completed by early 2015.
Economy Watch: Yellen Says Fed Will Stay the Course
Yellen outlines a plan of continuity, though the Bureau of Labor Statistics reports that job openings are slightly down. In addition, the House votes to raise the debt ceiling with no strings attached. The Senate is likely to do the same.
SPECIAL REPORT: MBA Delivers Cautious Economic Outlook for 2014
Mortgage originations for multifamily and commercial real estate in the last quarter of 2014 reached the highest volume achieved since 2007. Multifamily financing, in particular, has returned to levels last witnessed at the peak of the market.
TODAY’S DEALS: M West Adds 248 Units to LA Portfolio
M West Holdings acquires an apartment in Torrance, Calif.; Besen & Associates brokers the sale of a Section 8 community in the Bronx; and a three-property Santa Monica apartment portfolio trades for $28.5 million.
Keep a Full Kitchen in Your Micro Unit
Smaller units are all good in the eyes of the current generation of renters so long as their apartment community—and surrounding neighborhood—come equipped with the right amenities. But one problem with tiny floor plans is fitting in a functional kitchen. Stealth Kitchen Modules aim to fix that.
Greenville Apartment Community Trades Hands for $42M
Trade Street Residential has acquired the Aventine Greenville, a newly constructed 346-unit apartment property in Greenville, S.C., for about $42 million.
Economy Watch: Debt Ceiling Lumbers Back Onto National Stage
The House is again working on a bill to raise the debt ceiling, and the Las Vegas housing market is showing signs of a recovery now that 72 percent of residential transactions are conventional.
Eastview Development Names Gregory Stepp Director of Construction
Miami—South Florida-based real estate development firm Eastview Development has named Gregory Stepp as its new director of construction. Stepp is a seasoned real estate professional with more than two decades of industry experience developing high-profile construction projects. Prior to joining Eastview, Stepp served as president of Southland Contractors Group, Inc. in Davie, Florida. He also held previous positions with WSG Development Company, Related Group, CMC Group and Turner Construction Corp. In his new role, Stepp will be responsible for the day-to-day oversight, direction and control of the development and construction of Eastview’s 399-unit Biscayne Beach luxury condominium project. Located at…
Berkadia Promotes Ernie Katai to Head of Production
Horsham, Pa.—Berkadia Commercial Mortgage LLC announced the promotion of Ernie Katai to executive vice president and head of production. He succeeds Karl Reinlein, who is stepping down from day-to-day production management after 17 years of service to Berkadia. Katai was formerly a senior vice president and branch manager of Berkadia’s Detroit office. In his new role, he will be responsible for the oversight of Berkadia’s national origination network, which spans more than 50 offices nationwide. The change is effective February 22, 2014 and Reinlein will remain with the company to work with Katai on strategic projects and role transition. Katai…
Meta Housing Appoints Kasey Burke as President
Los Angeles—Meta Housing Corporation, a developer of affordable and market-rate apartment communities for seniors and families, has announced the expansion of its executive leadership team with the appointment of Kasey M. Burke as president. Burke, who has worked with Meta Housing for more than a decade and most recently served as its executive vice president, will guide the strategic direction and positioning of the company as it continues to expand in size and scope. “Our company has grown tremendously since its inception more than 20 years ago, and that growth has been magnified over the past five years,” says John…