News
Debra W. Still, CMB, Elected as MBA Vice Chairman
Atlanta–Debra W. Still, CMB, president and CEO of Pulte Mortgage LLC of Englewood, Colo., has been elected as the vice chairman of the Mortgage Bankers Association (MBA). Still recently served as chair of MBA’s Residential Board of Governors (RESBOG) and is a member of the association’s Board of Directors. As an active MBA member for more than a decade, Still has also served on MBA’s Strategic Planning Committee and was chair of the MBA Forward Task Force, as well as a member of MBA’s Loan Origination Task Force, Affordable Housing Committee and the Secondary and Capital Markets Committee. Still has…
Lottery Begins for Affordable-Income Apartments at $220M Project in the Bronx
New York, N.Y.–Joy Construction Corp. has just kicked off the first lottery for St. Ann’s Terrace in the Bronx, making available 380 of the 641 residences.
Chicago’s Newest Luxury Rental
Chicago–EnV Luxury Apartments is a 249-unit, 29-story project in Chicago.
DEAL OF THE DAY: George Smith Arranges $112M 223(f) Refi at 3.75% Interest, 80% LTV
Santa Clarita, Calif.–Commercial real estate investment banking firm George Smith Partners (GSP) arranged the refinance of a multifamily property, The Colony Townhomes, in Santa Clarita, Calif., utilizing HUD’s 223(f) program.
SPECIAL REPORT: CMBS Industry has to Contend with Massive Amounts of New Regulations Under Financial Reform Laws
New York–New financial reform regulations may have the effect of limiting the number of players in the CMBS industry.
Proposed FASB Standard Has Some U.S. Contractors Worried
Washington, D.C.–A proposed new accounting standard has some general contractors concerned that it might make it more difficult to proceed on construction projects as demand returns for new structures—such as multifamily.
Luxe List Home Adds 12 Atlanta Communities to Its 2010 List
Los Angeles–Luxe List Home has chosen 12 luxury apartment communities in Atlanta for inclusion in the 2010 Luxe List, an online residential resource that connects luxury rental customers with apartments in the U.S.
Brandywine Homes Rescues Stalled Redevelopment Plan in Garden Grove, Calif.
Garden Grove, Calif.–Where others have tried and failed, Brandywine Homes is succeeding.
DEAL OF THE DAY: Chozick Realty Brokers Sale of Property for $7.05M
Bloomfield, Conn.- Rick Chozick and Ryan Perkoski of Hartford based Chozick Realty Inc. arranged the sale of Wedgewood Apartments, located in Bloomfield, Conn. for $7,050,000.
Michael D. Berman, CMB, Sworn in as MBA Chairman
Atlanta–Michael D. Berman, CMB, president and CEO of CWCapital in Needham, Mass., was sworn in as the 2011 Chairman of the Mortgage Bankers Association (MBA). As chairman, a top item on Berman’s agenda is for MBA to continue to play its leadership role in redesigning the government’s role in the secondary mortgage market. Berman is a founder and member of the Board of Managers of CWFinancial Services. He joined the CW companies in 1985. Under Berman’s direction, CWCapital first entered the national lending business in 1991. Since then, annual loan production has grown from $100 million to $2.3 billion. CWCapital…