News
An Office Only When You Need It
The William Beaver House in Manhattan’s Financial District has solved the home office problem with the “Murphy Office.” The desk station hidden behind a sliding door borrows its name from the fold-away beds popularized as a source of comic relief in cinema.
E-Mon Debuts Remote Energy Monitoring for Multi-Building Facilities
E-Mon has unveiled a new web-based energy-monitoring platform that provides both real-time and historical data in any web browser, allowing property managers to view live energy use without having to install additional software.
Western National Promotes Two Property Management VPs
Orange County, Calif.–Western National Property Management, the multifamily property management division of Western National Group, has promoted Julie Manthey and Nick Alicastro to vice president roles.
Multifamily Utility Data Woefully Incomplete, Says New Study
A new study by Recap Real Estate Advisors concludes that the lack of large and robust data sets, a common data taxonomy and accepted industry standards for data collection all impede efforts to promote better utility usage.
TODAY’S DEALS: Jones Lang LaSalle Closes $190.1M Sale of Metro Baltimore Multifamily Portfolio
Jones Lang LaSalle brokers a $190 million six-property portfolio sale by SRH/CMS Berkshire LP to the Harbor Group International; Canyon-Johnson Urban Funds acquires a 125-unit community in Dallas’ Oak Lawn neighborhood; and GFI sells a 22-unit garden-style property in Queens, N.Y.
AMCAL to Debut First LEED Silver Affordable Housing Project
Panorama City, Calif.–AMCAL Multi-Housing Inc. is taking its commitment to a new level with the Los Angeles-area Montecito Terraces senior workforce housing project.
Economy Watch: More Debt-Ceiling Drama
The House and Senate are drafting two wildly different bills for raising the debt ceiling, and Obama addresses the nation on Congress’ stalemate. And the Chicago Fed’s index shows increased economic activity.
HUD Proposes New Assessments for Public Housing Authorities
HUD has proposed a new set of rules that would require public housing authorities to conduct physical needs assessments every five years, with 20-year projections.
TODAY’S DEALS: Dezer Pays Off $265M Mortgage on Miami Beach Trump Towers
Dezer pays off a $265 million mortgage on two of the Trump Towers in Miami Beach, Fla.; Arbor closes six Fannie Mae deals totaling $23.6 million; and Walker & Dunlop closes a $4.2 million acquisition loan secured by a 50-unit property in Minnesota.
Historic Rhode Island Property Receives Financing for More Apartments
East Providence, R.I.–Rumford Center, the mixed-use redevelopment of a historic mill complex, has obtained $15.5 million to complete the residential aspect.