News
‘Gimme Shelter’ with Daniel Gehman: All Revved Up and No Place to Go
The standards for cars to enjoy HOV-lane access get elevated in July, and finding a car that meets them is not an easy process.
AvalonBay’s Blair Retires as CEO
New York–AvalonBay Communities Chairman and CEO Bryce Blair affirmed at ReitWeek that he will step down as CEO after 26 years with the company.
Economy Watch: Bernanke Bemoans Economy, Warns of Drastic Federal Budget Cuts
With the recovery still fragile, Fed Chairman Bernanke says that drastic federal budget cuts could have damaging effects; job openings have been flat; and consumer borrowing saw an uptick in April.
TODAY’S DEALS: Berkadia Originates $13M for Illinois Student Housing Property
Berkadia originates $13 million for the acquisition of a student housing property; a JV between Wheelock and Iconic Development acquires a student housing complex in Virginia; and GFI Realty Services sells a Brooklyn apartment building for $7,700,000.
JWilliamsStaffing Expands To Texas; Opens Four Offices in Major Markets
Houston–JWilliamsStaffing, a leading staffing provider of temporary sales, leasing professionals and full-service staffing to the multifamily industry throughout California, Arizona, Nevada and Texas, is expanding with the opening of offices in Austin, Dallas, Houston and San Antonio. The Houston office opened in August 2010 while expansion into the other cities coincides with the hiring of Keith Rodgers, CGA, CSP, CGP as vice president. Based out of Houston, Rodgers is responsible for leading JWilliamsStaffing’s business growth and building a team of qualified professionals throughout the state’s four major markets. He will focus on cultivating real estate clientele as well as leading…
MacFarlane Buys SF Site for Apartment Tower
San Francisco–MacFarlane Partners has acquired a development site at 1844 Market Street in San Francisco on which it intends to build an eight-story multifamily residential building. According to the developer, which specializes in urban revitalization, the building will consist of 113 rental apartments–99 market-rate and 14 affordable units–along with 5,500 square feet of street-level retail and an underground garage with 81 parking spaces.
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.