News
DEAL OF THE DAY: Stalled Condo Project in Scottsdale, Ariz. Sells for $237,800 Per Unit
Scottsdale, Ariz.–Hendricks and Partners brokered the sale of the former condo project Ten Wine Lofts, located at 7126 E. Osborn Road in Scottsdale, Ariz.
Houston Condo Development Sold After Protracted Bankruptcy Proceedings
Houston–Gramercy Park Condominiums, a mid-rise multifamily property in the Medical Center submarket of Houston, has been sold out of bankruptcy.
DEAL OF THE DAY: Prudential Mortgage Capital Provides $26.9M Perm for Newly Built Property
Elkridge, Md.–Prudential Mortgage Capital Co. closed a $26.9 million permanent loan on behalf of Fannie Mae for Penniman Park Apartments, a newly constructed rental apartment located in Elkridge, Md.
How to Design Affordable Small-Lot Housing in Urban Areas
Small-lot infill housing has become more ubiquitous in urban areas such as New York City as developers seek to cash in on trendy older neighborhoods. Architect Carmi Bee describes his development and application of contemporary prototypes for such housing.
$48M in Financing Closes for Mixed-Use Project in Suburban Washington, D.C.
Washington, D.C.–It’s all systems go for Garfield Park, a 149-unit luxury mixed-use apartment project just outside of Washington, D.C., in Arlington, Va.
‘Foong on Finance’: Will the Deficit Commission Propose to Eliminate the LIHTC Program?
The chairmen of the president’s commission to reduce the federal deficit released their proposals yesterday.
SPECIAL REPORT: Experts Forecast Stronger Market Conditions Despite Weak Job Growth
New York–Companies may finally be feeling comfortable enough again to begin to play a strong role in supporting the economy.
First Sale in Major Newark Redevelopment Set
Newark, N.J.–Financing to purchase the first home of the first phase of Newark’s redevelopment of 90 affordable housing sites, which is called Fairmount Heights, will probably be finalized this week, according to the public/private partnership undertaking the project.
DEAL OF THE DAY: Kislak Markets and Sell Foreclosed and Renovated Property for $13.5M
Lindenwold, N.J.–The Kislak Company, Inc. announced the sale of Emerald Ridge Apartments, a 376-unit property in Lindenwold, N.J. that sold for $13,500,000. Vice president Matt Weilheimer handled the sale.
John Lis Rejoins ista North America’s Multifamily Division
Atlanta–After serving as vice president of Multifamily Sales with ista North America from 2003 to 2008, John Lis has rejoined the company as senior vice president of Sales & Marketing for the multifamily division. Ista is a leading energy cost management company. The executive team will look to Lis to use his 10 years of growth and development experience in the industry to strengthen its multifamily leadership. In his revious run with the company, Lis supported the implementation of ista’s submetering services to the portfolio. He subsequently shifted into vendor sales as vice president of Sales and served as senior…