News
TODAY’S DEALS: Harrison Street Completes $125M Acquisition of Senior Housing Portfolio
Harrison Street completes a $125 million acquisition; HFF arranges $23.5 million for a community in Florida; and Red Capital provides $20 million for a high rise in Philadelphia.
Via Verde in the Bronx Starts Accepting Applications
The developers of Via Verde, a 222-unit workforce housing development now under construction in the Melrose section of the Bronx, have started accepting residency applications for the property’s 133 affordable units.
NWP Services Corporation Introduces Common Area/Vacant Meters Variance Analytics
NWP, a provider of solutions to lower operating and utility costs for the multifamily housing industry, announced the introduction of Common Area/Vacant Meters Variance Analytics within the company’s UtilitySmart product family.
Crossville Releases New Tile, Hits Recycling Benchmark
Crossville, a Tennessee-based manufacturer of tile for residential and commercial applications, has achieved SCS certification for its waste recycling programs. The company has also released Bluestone, a new line of tile that is comprised of 20 percent recycled materials.
Ones to Watch
Every November MHN spotlights industry players who warrant attention in the year to come. These influential executives are employing strategies to overcome the challenges presented by the economy so that the multifamily sector can emerge stronger than ever.
Economy Watch: Drunk on Risk, MF Globals Falls on Face
Though not in the major leagues of failure as Lehman Brothers or AIG were, it was still something of a shock on Monday when MF Global Holdings Ltd. went belly up.
Resident Screening Benchmarketing Tool to Increase Tenant Revenue
LexisNexis Risk Solutions announced it is launching LexisNexis Resident Screening Marketplace Intelligence. This will allow leasing agents, property managers and investors access to reports on resident property performance.
TODAY’S DEALS: ARA Brokers Sale of Jacksonville Development Site
ARA brokers the sale of a development site in Jacksonville, Fla.; Walker & Dunlop closes a $50.5 million loan for an acquisition in Florida; and Eastern Mortgage Capital provides $5.1 million for affordable seniors housing.
PROFILE: Greystar Real Estate Partners LLC
In 2011, Greystar Real Estate Partners occupied for the first time the number one spot as the nation’s largest apartment manager.
Green Multifamily Redevelopment Near Completion in N.C.
The South Front Apartments, a redevelopment of the former Nesbitt Courts public housing project in downtown Wilmington, is nearing completion.