News
Cikel Introduces New Exotic Brazilian Hardwood Collection
Cikel America has introduced the Statesmen Collection, a new line of exotic Brazilian hardwood flooring that is 100 percent Forest Stewardship Council (FCS) certified. The wood is offered in two species of Brazilian Hard Birch and Brazilian Cherry Light in five different colors.
TODAY’S DEALS: BRE Acquires 220-Unit Apartment Community for $56.5M
BRE Properties Inc. buys 220-unit community for $56.6 million; Tikijian closes the sale of 384-unit Knobs Pointe; and Charles Dunn completes $1.2M sale in Los Angeles.
Crescent Resources Names Nina Shor Attorney General Counsel
Charlotte, N.C.– Crescent Resources LLC hired Charlotte real estate attorney Nina Shor to serve as general counsel and create the company’s in-house legal department. Shor brings more than 25 years of experience to the new post. Prior to joining Crescent, Shor helmed The Shor Law Firm PLLC in Charlotte. Her real estate development practice focused on community governance, builder programs, operating covenants and the acquisition of foreclosed properties for national developers. Shor also advised clients on marketing and land sales compliance, and advocated before the N.C. Building Code Council on compliance requirements. Shor has practiced law with firms in Charlotte,…
Economy Watch: Feds on Verge of a Nervous Shutdown
Is the federal government going to shut down because of the fracas between zealous House members (including freshman who weren’t around for the ’95 shutdown), somewhat less zealous members of Congress and the administration? On Saturday, the House passed by 235-189 a bill that cut more than $61 billion from fiscal 2011–the year underway–as part of a temporary funding measure.
Development Team Chosen for Biggest NYC Affordable Housing Project in 40 Years
New York–The Hunter’s Point development will encompass 5,000 new housing units–75 percent of which will be reserved for low-, moderate- and middle-income families.
Q&A with the City of Las Vegas’ Tim Whitright
Tim Whitright, development manager with the City of Las Vegas Economic and Urban Development Department, talks about what his department is doing to get Las Vegas back on track.
TODAY’S DEALS: NorthMarq Arranges $16.93M for Institutional Borrower’s Class A Mid-Rise
NorthMarq arranges $16.93M for new property; NAI Capital Commerce closes $16 million apartment sale; and Chalres Dunn negotiates the sale of a 35-unit property in Los Angeles.
Multifamily to Benefit from Improving CRE Finance
San Diego–Lack of capital is no longer the main problem for real estate finance, according to Jones Lang LaSalle’s 2011 Commercial Real Estate Financing Outlook.
Bozzuto Kicks Off 121-Unit Suburban Baltimore Townhome Project
Towson, Md.–Bozzuto Homes prepares to bring 121 new for-sale townhomes to Towson with Towson Green, a $40 million residential development outside of Baltimore.
TODAY’S DEALS: Security Properties Acquires 276-Unit Property in Colorado
Security Properties acquires a 276-unit Denver-area multifamily complex; NAI represents buyer and seller in $16M sale; and Marcus & Millichap brokers the sale of a 126-unit assisted-living property.