News
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.
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…