News
Robbinsville Town Center Receives N.J. Future Smart Growth Award
Newark, N.J.–Building pedestrian-friendly communities in auto-centric New Jersey can be difficult.
DEAL OF THE DAY: NorthMarq Arranges $7.6M Mortgage via AmeriSphere Affiliate
Richfield, Minn.–NorthMarq Capital’s Minneapolis regional office arranged first mortgage financing of $7.6 million for The Oaks on Pleasant.
NWP Services to Introduce Next Gen Utility Management Offering at NAA 2010 Conference
Irvine, Calif.–NWP Services Corp. (NWP) will introduce its next generation utility management offering, UtilitySmart, at the National Apartment Association’s (NAA) Annual Education Conference and Exposition on June 24-26 in New Orleans, La. “UtilitySmart is an all-new utility management suite of products that wholly targets one of multifamily properties’ largest operating expenses: utilities,” says Michael Radice, president and CEO of NWP Services Corporation. “With it, owners and operators can effectively control, manage and plan utility spend with precision, and as a result, gain measurable increases in Funds from Operations (FFO), Net Operating Income (NOI) and asset value of their properties,” Radice…
REIT Week 2010: Economic Outlook Optimistic, Except For When It’s Not
Chicago–If the recession is indeed over, what will GDP growth and the unemployment picture be going forward?
MARKET SNAPSHOT: Despite Rent and Occupancy Declines, Transaction Volume in Los Angeles Reaches Its Peak
Los Angeles–While valuations vary between submarkets, the local economy has caused declines in rental rates and increases in vacancy throughout the Los Angeles MSA.
DEAL OF THE DAY: Transwestern Arranges Sale of Waco’s Largest Apartment Complex
Transwestern’s Austin Multifamily Group has brokered the sale of the Sanger Oaks Apartments in Waco, Texas.
MHN Interview with James Brooks: Economic Recovery Is Taking Strong Roots in Inner Cities
Atlanta–James Brooks talks about what the Inner City 100 recognition means to the company and why he thinks cities are powerful economic engines.
Domino Sugar Refinery to be Redeveloped Into Affordable Housing
New York–The factory closed in 2004.
Lane Company Expands Student Housing Outreach
Atlanta–Multifamily real estate firm Lane Co. has announced that it will expand its outreach into the student housing area.
DEAL OF THE DAY: Arbor Closes $17,882,500 Fannie Mae Loan at 5.68% Interest
Fairview Heights, Ill.–Arbor Commercial Funding LLC recently funded a $17,882,500 loan under the Fannie Mae DUS product line for the 252-unit complex Longacre Ponds in Fairview Heights, Ill.