News
Economy Watch: Fed Pulls in Tidy Sum, Hands it to U.S. Government
The Federal Reserve gave the U.S. Treasury $76.9 billion in profits in 2011, not quite as much as in 2010, but still a very high total by historical standards.
Today's Deals: Northwestern Mutual Sells Ann Arbor Asset
Northwestern Mutual sells an Ann Arbor asset; Equity Residential sells a 432-unit property in Virginia; and Dominion America Realty closes a loan modification and finance restructure.
830-Acre Purchase Paves Way for $2.5B Smart Growth Community
LNR Property LLC, developer of the SouthField master-planned community outside of Boston in Southfield, Mass., has just wrapped up the acquisition of the final 830 acres required to bring the 1,400-acre, $2.5 billion project to fruition.
Trend Stone Achieves Granite Results without the Hassle
Replacing countertops is a messy process that includes a cost and time consuming demolition. Wouldn’t it be nice if you could just drop a new surface right onto the old countertop? Granite Transformations has designed a system to do just that.
Residential Component Likely at Proposed Javits Center Redevelopment
Gov. Andrew Cuomo recently proposed replacing the convention center, opening up its location for redevelopment and the neighborhood of Hell’s Kitchen’s access to the Hudson River.
Enterprise Launches Re-Designed Integrated Website
Columbia, Md. – Celebrating its 30th anniversary year, Enterprise Community Partners Inc., together with Enterprise Community Investment Inc. recently launched a new website that integrates a wealth of information and resources into one interactive and easy-to-navigate portal serving the housing and community development industry. Using the same URL and cloud computing, users are invited to experience the impact of Enterprise’s work across the nation through compelling images and powerful stories that highlight the organization’s expertise across multiple disciplines. Developers, investors, policymakers and many other community development partners will find the latest information, technical resources and tools they need. Innovative features …
ARA Finance Achieves $1 Billion in Multi-Housing Financings
Atlanta—ARA Finance, a joint venture of ARA and CWCapital LLC, a subsidiary of CW Financial Services, has closed over $1 billion in multi-housing loans. Launched in April of 2009, ARA Finance, through CWCapital, has provided multihousing investors with a full range of mortgage finance services, providing a successful combination of convenience, service and competitive terms. The venture marked the beginning of a new era for ARA which has, since its inception in 2003, focused solely on the brokerage of multi-housing properties on behalf of an array of institutional, REIT and private client sellers. ARA Finance, through CWCapital, originally offered Fannie…
Axiometrics Names Keith Walters Chief Operating Officer
Axiometrics Inc., a provider of data and analysis on the multifamily housing sector, recently announced that Keith Walters has been appointed chief operating officer. Walters was an outside director of Axiometrics prior to becoming the company’s COO. Previously, Walters was president and COO of IT managed services provider Sagiss LLC. While at Sagiss, he led the company through a complete change in its business delivery model, gaining recognition for the company in the MSPMentor 100 as one of the top IT-managed service providers in the U.S. Prior to Sagiss, he served as vice president and general manager of Global Program and…
Economy Watch: Employment Trends Index Up; Home Prices Down
CoreLogic reported that whatever steam the U.S. job market seems to be experiencing (overstated or not), that momentum hasn’t budged the housing market just yet.