News
Apartment Fundamentals Attracting New Waves of Investors
The latest quarterly report by Apartment Realty Advisors on the direction of key indicators in 29 U.S. metro apartment markets shows some movements in some places-
DEAL OF THE DAY: Great Lakes Financial Completes $11.2M Financing for Seniors Preservation Project
Great Lakes Financial Group LP closed a preservation deal through the MSHDA Tax-Exempt Direct Loan Program with Longfellow Apartments, a 149-unit residential, active adult apartment building development for $3,874,000.
Woodfield Investments’ Apt. Communities One of First to Go Live on ApartmentGrade.com
The apartment community ratings site
Apartment Firms Cut Discretionary Technology Spend, But Boost Outsourcing Dollars, Survey Finds
Washingon, D.C.—Apartment firms have changed their IT spending habits in recent years, cutting spending on discretionary information technology (IT) projects, according to a just-released survey from the National Multi-Housing Council. The report, an update of a similar survey done in 2008, examines three aspects of IT spending: IT outsourcing (contracting with an outside firm to handle IT or a particular IT task); IT consultant spending (hiring an outside IT professional rather than using staffers); and discretionary spending on revenue- increasing IT investments, such as document management systems and lead tracking/lead management systems. The survey found that spending on discretionary projects…
Threat of A Doormen Strike Threatens Looms Over New York’s Apartment Owners
There is a chance that at midnight tomorrow, thousands of doormen, concierges and handymen working in New York’s buildings could go on strike.
A Rebound for South Florida Condos?
There may be signs of life yet for the south Florida condo market, so famously battered by unemployment, tight credit, overbuilding in some spots, and other slings and arrows of outrageous economic fortune.
DEAL OF THE DAY: Walker & Dunlop Closes $45.6M Fannie Mae Refi Loan
Walker & Dunlop provided a $45,600,000 loan for The Presidio complex
Stephen M. Collins Joins Marcus & Millichap
Marcus & Millichap Real Estate Investment Services has hired Stephen M. Collins, a leading special assets and multifamily investment specialist in its Columbia office.
Multifamily Construction Spikes in March
The U.S. Department of Commerce reported on Friday that housing construction bumped upward more than expected in March, driven in particular by multifamily development.
DEAL OF THE DAY: NorthMarq Capital Arranges $7.24M 2-Year-Interest-Only Mortgage
Greg Duvall, senior vice president and senior director of NorthMarq Capital’s Kansas City Regional office, arranged a first mortgage of $7,237,500 for Highland Ridge Apartments, a 219-unit multifamily complex located in Atlanta.