News
Advanced Submeters Reveal Savings Opportunities for Multifamily Housing
The Internet is now used to track and analyze “big picture” electrical consumption (kWh) and demand (kW) from a single circuit to multiple sites around the world.
NorSouth Development to Develop $16.25M Seniors Community
NorSouth Development announced it is starting construction on a $16.25 million seniors community called HearthSide Sugarloaf in Gwinnett County, Ga., the fifth HearthSide community in the metro Atlanta area since 2010.
IREM Kicks Off Year-Long 80th Anniversary Observance
The Institute of Real Estate Management recently launched a year-long observance of its 80th anniversary.
Greystar Doubles Down in the Northeast with Two Key Marketing Hires To Support Continued Growth
Greystar announced the hiring of Corinne Bolno and Christina Hershey, as marketing managers for its apartment portfolio in the Northeast.
SPECIAL REPORT: Fannie Mae Stresses Loan Quality, Risk-Sharing and Profitability for U.S. Taxpayers
Fannie Mae’s priority in 2013 will be to continue focusing on loan quality, said Jeffrey Hayward, senior vice president, head of the Multifamily Mortgage Business, Fannie Mae.
Phase I of Shippensburg University Housing Complete
The first phase of a development project to upgrade all on-campus residences at Shippensburg University in Shippensburg, Pa., is complete.
Economy Watch: Trade Numbers Point to 4Q Growth
The U.S. Department of Commerce reported on Friday that the U.S. trade deficit dropped from $48.6 billion in November to $38.5 billion, both as the result of rising exports and dropping imports.
SPECIAL REPORT: MBA Predicts Multifamily Funding Market Share May Fall Slightly in 2013
Mortgage originations for commercial properties will increase by 11 percent in 2013, the Mortgage Bankers Association forecasted. Multifamily financing may tick down this year as capital supply to the other commercial real estate sectors make a comeback.
TODAY’S DEALS: Inland Enters into Student Housing Development Partnership
Inland American Communities enters an Oregon-based partnership/development; a development site in Queens, N.Y., hits the markets for $21 million; and NorthMarq Capital arranges $22.6 million in an interest-only mortgage via life insurance lender.
Ground Broken for Suburban LA Affordable Housing
Affirmed Housing Group has broken ground on Arbor Green Apartments, an affordable housing development. The property will include 40 units comprised of one-, two- and three-bedroom units, each with its own storage locker.