News
The Siegel Group Snaps Up 18 Multifamily Properties for Renovation in Las Vegas
Las Vegas–The Siegel Group Nevada Inc. continues to capitalize on the opportunities presented by foreclosures with the recent acquisition of 18 Class B and C apartment properties in Las Vegas from a private seller. At $1.8 million, the purchase price for the 78-unit portfolio was deeply discounted and well below replacement cost.
Fetch Plus Appoints Karen Kossow to Oversee Operations and Strategic Development
Chicago–Karen Kossow has recently been appointed as vice president,operations/strategic development, North America for Fetch Plus Asia Pacific, Pte. Ltd. a leader in social media and mobile applications for the multi-housing, real estate, hotel/hospitality and franchise sector. In this capacity, Kossow will oversee the North American operations of Fetch Plus Asia Pacific, Pte. Ltd.’s newest social media design application, to top tier national companies with multiple holdings as well as strategic partnerships with affiliated industries. Kossow most recently served as vice president of sales & marketing at Kettler Management Inc. in McLean, Va., where she was responsible for the strategic planning,…
Federal Home Loan Bank of Atlanta Awards $15.4M For Affordable Housing
Atlanta–The Federal Home Loan Bank (FHLBank) of Atlanta has awarded part of the funding under its 2010 Affordable Housing Program (AHP) to affordable housing developments in Florida and Georgia, a total of $15.4 million.
‘The Accidental Economist’ with Jack Kern: And the Census Says…
While 2011 is seeing great improvement over prior periods, we’re still seeing stress in the markets.
TODAY’S DEALS: Colliers Completes $2.5M Huntington Beach Sale
Colliers closes a $2.5 million condo sale in California; Kislak participates in apartment sales in Hudson Valley, N.Y.; and Walker & Dunlop provides a $4.55 million refinance loan for San Antonio apartments.
SPECIAL REPORT: Internet Is the New ‘Location’ in Student Housing
Las Vegas–At the National Apartment Association (NAA) Student Housing Conference and Exposition in Las Vegas, a panel of college students–most of whom have been living in off-campus student housing communities for a few years and are on their way to graduate school–expressed how living close to classes is important. However, location pales in comparison to another far-more-crucial criterion: Internet connectivity.
ForRent.com Unveils Partnership with Oodle
Norfolk, Va.–For Rent Media Solutions has announced that ForRent.com has entered into an exclusive partnership with Oodle, whose Marketplace on Facebook and Oodle.com has more than 14 million monthly unique users. Under this partnership, ForRent.com customers will have its listings integrated with its Facebook Page and social graph of fans. This enhanced exposure on Facebook and in Marketplace will drive new leads and referrals to ForRent.com customers. “Our partnership with Oodle provides a human element to our customers’ listings and brings a trust factor to the rental process, since users can see how their friends and friends of friends are…
Economy Watch: Home Prices Headed for Double-Dip Territory
The latest S&P/Case-Shiller indexes on U.S. housing prices confirm that home valuations are still on the slide. In fact, almost all of the small pricing uptick experienced in 2009, which probably was a result of the long-gone federal homebuyer tax credit, has been erased. A continuing influx of distressed properties put further pressure on prices.
Impending Panama Canal Expansion to Increase Need for Miami Multifamily Housing–Maybe
Miami–Expansion of the Panama Canal is on track to reach completion in 2014 and Miami, with its port being the closest U.S. port to the Canal, could benefit from thousands of new jobs that would need to be created due to the rise in shipping activity, and those added jobs would spur an increase in demand for multifamily housing.
HUD Proposes Modest Cuts in Its Budget for FY12
Washington, D.C.–The U.S. Department of Housing and Urban Development (HUD) has released its proposed budget for the federal government’s fiscal 2012 (beginning Oct. 1, 2011), which it forecasts will be a net of about $43 billion for the year.