News
Justice Department Files Fair Housing Suit Against Washington State Apartments
Washington, D.C.–The U.S. Department of Justice has filed a suit against the owner, management company and former on-site manager of Summerhill Place Apartments.
$125M in Financing Paves Way for Groundbreaking on Two Miami Affordable Housing Projects
Coconut Grove, Fla.–Work has now gotten under way on Phase I and II of the Brownsville Transit Village.
Phase II of $22M South End Revitalization Projects Begins
Albany, N.Y.–Construction on the second phase of the $22 million South End Neighborhood revitalization project in Albany has now started.
DEAL OF THE DAY: Colony Capital, The Cogsville Group Invest in 1,600 Commercial Real Estate Loans Held by FDIC
Colony Capital LLC and The Cogsville Group LLC have closed on the purchase from the Federal Deposit Insurance Corp. (FDIC) of a $1.8 billion portfolio of more than 1,600 commercial real estate loans acquired by the FDIC as receiver of 21 failed financial institutions.
Value Cos. Launches Third-Party Property Management Division
Clifton, N.J.–Value Companies has launched a new division to provide full-service management capabilities and customized asset solutions to third-party real estate investment and property owner clients throughout the country.
Web Feature: Are You Marketing to All Prospects in the Melting Pot?
New York–The renters of tomorrow look very different but the industry isn’t exactly doing..
REIT CEO Compensation, Including Multifamily, Grew in 2009
New York–REIT CEO bonuses saw shifts to cash and equity percentages.
San Fran Board of Supervisors Helps Mixed-Use Project Clear Last Hurdle
San Francisco–Plans for 900 Folsom, a 450-unit mixed-use residential development..
DEAL OF THE DAY: Bernard Financial Sources $13M Financing for Mich. Property from Life Insurance Co.
Bernard Financial Group arranged a $13,000,000 loan for the Westlake Apartments. The financing comes from Minnesota Life insurance Co.
Kettler Property Wins PARAGON Community of the Year
Arlington Va.–Kettler Management’s The Metropolitan at Pentagon City in Arlington, Va., was named National Apartment Association’s (NAA) PARAGON Community of the Year.