News
New Partnership to Fund Affordable Housing Renovations
Chicago–The John D. and Catherine T. MacArthur Foundation, the National Affordable Housing Trust and Cornerstone Real Estate Advisers L.L.C. have partnered to preserve federally subsidized rental housing in a number of markets.
DEAL OF THE DAY: CB Richard Ellis Completes $3.6M Sale
Passaic, N.J.–CB Richard Ellis brokered the $3.6 million sale of a multifamily building at 37-47 High Street in Passaic, N.J.
Aimco Energizes Three Philadelphia Properties with New Cogeneration Plants
Philadelphia–With the assistance of a $1 million competitive, matching grant from the State of Pennsylvania’s Green Energy Works! Program, Apartment Investment and Management Company has installed an energy-efficient system that will significantly decrease tenants’ utility bills.
Fitness Facilities Make Your Community Stand Out
Having a fitness facility on site can influence renters’ decisions, as they factor in the money saved on gym membership and, of course, the convenience. Cutting-edge facilities get extra points.
TGM Acquires Upscale Naples Apartment Community
New York–TGM Associates has acquired Malibu Lakes, a 356-unit garden-style apartment community in Naples, Fla.
Jamboree Breaks Ground on Intergenerational Affordable Housing Project
Claremont, Calif.–Jamboree has broken ground on Courier Place Apartment Homes, which will be a 75-unit, unified apartment community for low-income seniors and working families.
Mildner Joins Crescent Resources
Charlotte, N.C.–Crescent Resources, LLC has hired veteran real estate developer Richard Mildner as senior vice president.
Suburban Seattle Student Housing Wins Top USGBC Award
Kenmore, Wash.–Bastyr University’s new student village has won “Outstanding Multifamily Project” in the 2010 LEED for Homes Awards from the USGBC.
Silestone Launches Volcano Texture Surfaces
The surface of the new Volcano Texture creates a contemporary matte look and feel. At launch, the collection will be available in five colors.
DEAL OF THE DAY: Marcus & Millichap Arranges 80% LTV for $3.3M Fixed-Rate Mortgage
Greensboro, N.C.–Marcus & Millichap arranged a $3,304,000 loan for the acquisition of a 159-unit garden-style multifamily asset in Greensboro.