News
Tight Credit, Flawed Appraisals and Erratic Supply Chain Hurt Jobs, Housing
The budding housing revival driven by pent-up consumer demand still faces a number of obstacles, including tight credit for builders along with a stretched lot and building supply system in many markets that are barely keeping up with demand.
TODAY’S DEALS: SoCal LIHTC Property Trades for $23.4M
Marcus & Millichap arranges the $23.4 million sale of LIHTC property; SBV Communities enters South Carolina with a 332-unit buy; and Alliant Capital closes on a $4.95 million loan.
Yardi Signs On Again as an IREM Industry Partner
The Institute of Real Estate Management (IREM®) announced that Santa Barbara-based Yardi Systems Inc. has become a 2013 IREM® “Industry Partner” at the highest level of participation, continuing a long-time, mutually rewarding relationship between the two organizations.
White Paper: Multifamily Manufactured and Modular Construction
Modular manufacturing can offer the opportunity to conduct a meaningful portion of the construction in more competitive labor markets using sheltered, assembly line techniques, thus allowing task-skilled fabricators to conduct much of the building process without formal construction-trade training and apprenticeship.
Slideshow: 420-Square-Foot Apartment Done Right
An acute lack of inventory and soaring rents are providing New York City developers with an opportunity to turn the concept of living in small apartments into an art form. One such developer, LifeEdited, was launched in 2009 by Graham Hill, a trained architect turned entrepreneur who believes in simplifying life and living large in tiny spaces. LifeEdited’s 420-square-foot SoHo apartment exemplifies the developer’s concept: use technology and smart design to live a happy life with less stuff, less space and less waste. Dubbed LifeEdited1 (or LE1), the tiny apartment has the functionality of a 700-square-foot apartment thanks to a…
Incentives Offered to Buyers at Palisades Park Condos
On the heals of a successful $25,000 incentive program for buyers at The M at Englewood South, the owners of the condominiums will be offering similar incentives to those who sign a contract on a new home at Trio, located at 800 12th St., in Palisades Park, by March 31.
Alno Introduces ‘Kitchen of Tomorrow’ with New Ceramic Front Surface
Multifamily designers now have the option for a truly unique kitchen effect thanks to Alno’s introduction of CERA, a new frontal surface made from micro-fine oxides and silicides.
Economy Watch: LPS: Home Prices Edge up in December
Ahead of Tuesday’s Case-Shiller numbers, Lender Processing Services released its LPS Home Price Index report, which is based on December 2012 residential real estate transactions. According to the index, U.S. home prices were up 0.1 percent in December compared with November, and up 5.8 percent year-over-year.
Texas Mulitfamily Developer to Access EB-5 Funding
Texas Urban Triangle Regional Center and multifamily developer TDI have formed a partnership to develop apartment properties funded through EB-5 foreign investment financing.
TODAY’S DEALS: TGM Associates Buys 712-Units in Chicago Suburb
TGM Associates buys a 712-unit asset from RREEF; Oak Grove Capital originates five loans in two weeks; and a Southern California LIHTC property sells for $23.4 million.