News
NWP Introduces New Resident Web Services Portal
NWP Services Corporation (NWP), a provider of utility cost recovery and energy management solutions for the multifamily industry, has released a new portal experience for residents designed for ease of use and convenience when viewing bill information and remitting payments on www.nwpresident.com.
Centerline Facilitates a $44M, Nine-Property Multifamily Portfolio Sale in Houston & Dallas
Centerline Capital Group has provided nine conventional Freddie Mac loans, totaling approximately $44 million, to enable the acquisition of nine multifamily properties, totaling 2,150 units, located in Houston and Dallas.
Abu Dhabi’s Nation Towers Welcomes Hotel with World’s Highest Suspended Suite
Starwood Hotels & Resorts Inc., a member of St. Regis Hotels & Resorts, announced the opening of the 283-key St. Regis Abu Dhabi, following the location’s mid-August debut.
Economy Watch: New Home Sales Up in August
The Census Bureau and HUD reported that sales of new single-family houses in August 2013 were at an annualized rate of 421,000 units. That’s 7.9 percent higher than the revised July rate of 390,000 units and is 12.6 percent above the August 2012 total.
CPC Oversees $10M Construction Loan for Affordable Community
Westchester County real estate developer Ken Kearney and Rehabilitation Support Services Inc. have obtained a $10.5 million construction loan to build Highridge Gardens, a multifamily development in Poughkeepsie.
TODAY’S DEALS: Morgan Properties, DRA Acquire 526-Unit Apartment Community
Morgan Properties expands in Maryland; Walker & Dunlop finances 2,400 units in Tennessee; and Essex Realty brokers the $4.89 million sale of a courtyard building.
Wood Partners Begins Construction on Fourth Multifamily Project in Los Angeles County
Wood Partners has broken ground on its 300,000-square-foot Alta South Bay community, marking the company’s fourth multifamily project in Los Angeles County.
MHN Interview: Jeff Elowe of The Laramar Group
The Laramar Group announced a major acquisition in Southern California earlier this month. CEO Jeff Elowe, who was recently named Entrepreneur of the Year by Ernst & Young for the Mountain Desert Region, took the time to speak with MHN about the company’s strategy and give us his take on the multifamily industry now.
Riverstone Residential Group Names Peggy Bertsch Chief Accounting Officer
Riverstone Residential Group, a privatelyowned, third-party multifamily property management company, announced the appointment of Peggy Bertsch as chief accounting officer.
The Solomon Organization Acquires Harrisburg Multifamily Property
An affiliate of the Solomon Organization has acquired Ivy Ridge Apartments and Townhomes, a 218-unit rental community in Swatara Tonwship, Pa.