News
NAAEI Survey Reinforces Value of Continuing Education
Apartment managers surveyed by the National Apartment Association Education Institute agree that continuing education programs translate to higher pay and better performance.
Ground Broken for Towson Green Townhouses near Baltimore
Towson, Md.–Bozzuto Homes has broken ground for Towson Green, a new sustainable townhome development in Baltimore County.
TODAY’S DEALS: HFF Arranges $17.8 for Tallahassee Community
HFF arranges $17.8 million in financing for a 248-unit Class A community in Tallahassee; Black Castle Development submits letter of intent for 50-unit asset in Fresno; and NorthMarq arranges $15M five-year interest-only mortgage.
Work Commences on Groundbreaking Green Affordable Housing Project in Brooklyn
Brooklyn, N.Y.–Ground has broken on the first of a three-phase affordable housing project that will have the largest residential solar energy system in the state of New York.
Economy Watch: U.S. Households Grow Richer
A Fed report shows a jump in U.S. household wealth during the first quarter of 2011; Treasury looks to punish three big banks for substandard performance in participating in HAMP; and the Fed is now the top U.S. creditor.
HUD Unveils Multifamily Refinance Program that Also Pays for Green Upgrades
Washington, D.C.–HUD has kicked off Green Refinance Plus, which will allow owners of affordable rental housing properties to refinance into new mortgages that include funding for energy upgrades.
TODAY’S DEALS: Atlas/Andover Partnership Purchases 336-Unit Asset in Florida
Atlas Real Estate Partners and Andover Real Estate Partners team up for 336-unit acquisition; Hudson Realty Capital funds $4.28M for two properties; and Waterton Residential acquires a 210-unit, 55-plus adult community in Georgia.
SureDeposit Partners with Fogelman
Livingston, N.J.– Fogelman Management Company of Memphis, Tenn., has entered into agreements to begin offering SureDeposit’s surety bond product as part of their leasing offering to prospects.
WDG-Designed Mixed-Use Project Gets Green Light in Bethesda
Bethesda, Md.–The proposal for Woodmont Central, a 585,000 square-foot mixed-use project in Bethesda, Md.’s Woodmont Triangle neighborhood, has been approved.
MARKET SNAPSHOT: Investor Interest Picks Up in Milwaukee Due to Strong Fundamentals
Milwaukee–In Milwaukee, there has been a tremendous amount of interest from local and regional buyers in multifamily assets of 150 units or more.