News
Judge Says Zell Can Bid on Archstone
Judge James M. Peck of the U.S. bankruptcy court in Manhattan dealt a blow to the effort by Lehman Brothers Holdings Inc. to prevent Barclays and Bank of America from giving Equity Residential Properties an option to buy 26.5 percent of multifamily landlord Archstone.
Today's Deals: Canyon-Johnson Urban Fund Invests in L.A. Development
Canyon-Johnson Urban Fund closes the financing gap on a L.A. development; ARA brokers a 240-unit sale in North Carolina; and GFI Realty brokers the $1.05 million sale of apartment building.
Mission Place Complete, Almost Fully Leased in Jessup, Md.
The Dolben Co. has announced the completion of Mission Place, a $53 million development that includes 262 luxury apartments and almost 24,000 square feet of ground-floor retail on a 6.5-acre parcel at the junction of Washington Blvd. and Mission Rd. in Jessup.
Crescent Resources Taps Industry Veteran for Top Post
Charlotte, N.C.—Crescent Resources’ board of managers has appointed Todd Mansfield as president and chief executive officer of the company. Mansfield previously served as lead director for the company and brings three decades of experience to the post. During his career, Mansfield has overseen deployment of more than $5 billion in development and real estate investment capital. He was president of Bio-Logical Capital of Denver and will transition to membership on its board of directors. His experience also includes serving as chairman and chief executive officer of Crosland and as executive vice president of Disney Development Co., where he led the…
Economy Watch: Strength in Employment Numbers?
Presumably what the economy needs now is a continuous string of strong employment numbers months–a freight train’s worth of 200,000-plus increases lasting many months.
RentSentinel Launches New Website
Chicago—RentSentinel kicked off 2012 with a new website at www.rentsentinel.com. The redesigned public site was a collaborative effort between the RentSentinel team, The Resident Connection, LLC and 30 Lines LLC. “The website redesign represents our commitment to the growing needs of our customers with a comprehensive suite of apartment marketing solutions,” says President Eric Broughton. “The site is easy to navigate and provides flexibility for future growth. It’s about building a relationship with a new audience and giving our longtime clients what they have come to expect.” RentSentinel partnered with Mark Juleen from the Resident Connection and Mike Whaling from…
New Partnership Seeks Value-Add Apartments in Metro Seattle
Trinity Real Estate and Norman Partners have formed a partnership to buy multifamily properties and other kinds of commercial real estate in the Puget Sound region.
Jonathan Price Joins Centerline Capital Group in Mortgage Banking Division
New York—Centerline Capital Group, a provider of real estate financial and asset management services for affordable and conventional multifamily housing, has hired Jonathan Price as assistant vice president in the Mortgage Banking division. Price will be assisting the head of the Alternative Capital Group, Kevin Smith, in analyzing and sourcing debt and equity for a variety of asset classes for Centerline’s clients. Prior to joining Centerline, Price worked in corporate real estate for Kaiser Permanente, where he managed a portfolio of 59 buildings in the Mid-Atlantic region. Previously, he was an acquisitions associate for Guardian Realty Investors,LLC, a private REIT…
Today's Deals: MG Properties Acquires 163-unit Community
MG Properties completes a $28 million acquisition, has $200 million planned for 2012; AEW Capital buys a Portland asset for $55.3 million; and Meridian Capital negotiates financings totaling $29.9 million for properties in New York.
Butler and St. John to lead CBRE Multi-Housing Group in New England
Boston—CBRE/New England has announced that Simon Butler and Biria St. John have re-joined its Boston office as executive vice presidents and partners to lead the Multi-Housing Group in New England. They are 18-plus-year veterans of the business exclusively specializing in multi-housing investment sales and will join forces with Bill Moylan and Chris Angelone, who lead the CBRE/New England Capital Markets in Boston. The addition of Butler and St. John further solidifies CBRE/New England as the leading investments sales team in the Northeast. Butler and St. John were recently executive directors with Cushman & Wakefield Inc.’s Capital Markets Group. Prior to…