News
NorSouth’s $15.3M Seniors Community 100 Percent Occupied
HearthSide Towne Lake, a $15.3 million, 100-unit affordable seniors community in Woodstock, Ga., is 100 percent occupied less than a year after opening. The community was developed by Atlanta-based NorSouth Development and built by NorSouth Constructs.
Today’s Deals: Centerline Provides $55M Bridge Loan for Oakland Asset
Centerline provides a $55 million bridge loan to an Oakland asset; a joint venture between Wood Partners and an institutional investor completes a disposition; and GFI sells a Brooklyn apartment building for $1.3 million.
Pennrose Selected as Winner of the Philadelphia Business Journal and The Forum of Executive Women’s Inaugural Advancing Women Award
Pennrose, a real estate firm developing and managing multifamily communities for over 35 years, announced that the Philadelphia Business Journal and The Forum of Executive Women have selected the company as the local winner for the Inaugural Advancing Women Award.
Never Lose Heat through a Balcony Again
Balconies can be a tricky part of construction. Without proper planning you might end up with an energy inefficient heat sink that could lead to condensation and mold. Luckily there is a new product available here in the States from German-based building solutions firm Schöck.
San Bernardino Housing Authority Selects Yardi Voyager to Manage its Public Housing Portfolio
Yardi announced today that the Housing Authority of the County of San Bernardino (HACSB) in California has selected Yardi Voyager™ as its property management and accounting platform.
Commercial and Multifamily Mortgage Debt Outstanding Increases for Fourth Straight Quarter
The level of commercial/multifamily mortgage debt outstanding increased by $6.6 billion, or 0.3 percent, in the third quarter of 2012, as three of the four major investor groups increased their holdings, according to the Mortgage Bankers Association.
Michaels Development and the Housing Authority Develop Affordable Housing Community in South Camden
Michaels Development has teamed with the U.S. Department of Housing and Urban Development to open Morgan Village, a new 40-unit rental townhouse community serving low- and moderate-income families in the Morgan Village neighborhood of South Camden.
Downtown Cleveland Property Wins Preservation Prize
Saint Luke’s Manor in Cleveland recently won the National Trust/HUD Secretary’s Award for Excellence in Historic Preservation.
Economy Watch: Employment Index Slips
The Conference Board reported that its Employment Trends Index decreased slightly in November, making the fourth monthly drop this year.
Ken Uranowitz Named President of Gebroe-Hammer Associates
Ken Uranowitz has been named president of Livingston-based Gebroe-Hammer Associates, the region’s dominant commercial real estate brokerage firm, announced Chairman Alan Gebroe.