News
New Paint Tray Gives a Leg Up to Ladder Painting
PaintSmart-Trayz from Keane Corporation are an innovative product that make painting with ladders a much easier ordeal. The hanging tray has a built in paint reservoir and hooks and slots that keep brushes and rollers at hand.
The Smooth Expansion from Apartments to Extended-Stay Hotels
Witchita, Kan.–In the commercial real estate world, the multifamily market and the lodging market are essentially two different animals, but they don’t have to be. Nick Esterline, a Wichita, Kan.-based real estate owner and developer, has found that there are similarities between apartments and extended-stay hotels, that can allow owners of the former property type to easily make a foray into the latter sector.
NWP Services Corporation Announces Partnership with Energy Star
Irvine, Calif.–NWP Services Corporation has announced the company has become an Energy Star Partner. Through its voluntary partnership with the U.S. Environmental Protection Agency’s (EPA) Energy STar, NWP helps customers improve the energy efficiency of their multifamily communities, improve financial performance and help preserve the environment for future generations. “Customers who utilize our UtilitySmart Business Intelligence and Benchmarking Analytics product can now choose to take advantage of a robust and seamless integration with EPA’s Portfolio Manager, to automatically submit comprehensive utility consumption data to benchmark their communities’ performance and comply with local and state regulations where applicable,” says Jim Charles,…
Economy Watch: Conference Board Employment Index Slip-Slides Away
In more unsettling employment news, the Conference Board said on Monday that its Employment Trends Index declined for the second month in a row in May to 99.7, down from April’s revised figure of 100.1. On the other hand, the May figure is still up 5.3 percent from a year ago.
TODAY’S DEALS: NorthMarq Capital Arranges $180M Freddie Mac Mortgage
NorthMarq Capital supplies first mortgage financing of $180 million; C&W arranges the sale of a 48-unit community for $10 million; and Trade Street acquires a 172-unit property in Chattanooga.
Upper West Side Property Shifts Gears to Rental
New York–The nine full-floor residences at 208 West 96th Street, developed by Manor Properties Group LLC, are no longer for sale. Instead, according to Manor Properties, the three-bedroom, three-bath units will be for rent, with the decision to go rental made in response to feedback during the initial marketing stages of the property’s sales campaign.
TODAY’S DEALS: NorthMarq Capital Arranges $180M Freddie Mac Mortgage
NorthMarq Capital supplies first mortgage financing of $180 million; C&W arranges the sale of a 48-unit community for $10 million; and Trade Street acquires a 172-unit property in Chattanooga.
AvalonBay Announces CEO to Step Down
Arlington Va.–AvalonBay Communities Inc. has announced that Bryce Blair, chairman and chief executive officer, will retire from his role as CEO at the end of 2011. Timothy J. Naughton, the company’s president, will then assume the additional role and title of chief executive officer.
Ground Breaks on Southern California Community Designed for 21st-Century Seniors
Long Beach, Calif.–Work has gotten underway on the Long Beach Senior Arts Colony, a 200-residence affordable housing community in Long Beach, Calif., designed by architectural firm Studio One Eleven to tailor to the demands of today’s seniors.
Economy Watch: Jobs Numbers Disappoint, But Overall Employment Picture Unchanged
Anemic hiring in May meant, essentially, that it was more of the same for the economy during the month. That is, according to the Bureau of Labor Statistics, a lot of labor indicators were “essentially unchanged”–unchanged from crummy, unfortunately.