News
U.S. Energy Group’s iPhone App Allows Easy Control for Property Managers
The U.S. Energy Group has released USE-Mobile, providing property managers with the ability to control their buildings with their mobile devices, including iPhones, Blackberrys and other smart phones.
2011 Budget Proposal Is Good With Regards to Housing
Clare Duncan, policy associate at the NHC, explains how the funding for HUD will go toward achieving some of its key goals.
Partnership Targets Distressed Multifamily Properties
Strategic Management Partners (SMP) has joined forces with GFI Capital Resources Group Inc., a New York-based real estate and insurance service provider, to offer multifamily property management services to owners of underperforming and distressed apartment communities.
Newly Opened Brooklyn Condo 50% Sold
Steiner NYC, developer of Steiner Studios and 80 Metropolitan, Williamsburg’s new midrise, loft-inspired condominium, has received FHA approval, meaning that borrowers can now get mortgage loans with low down payments – as little as 3.5 percent—and easier credit qualification.
Carlton to Sell $257M of Non Performing, First Mortgage Loans Secured by Small Balance, Multifamily and Retail Commercial Properties
The Carlton Group has been retained by a major financial institution to sell $257 million in first mortgage loans secured by a variety of commercial properties including retail, multifamily and industrial assets.
RCA Acquires Real Estate Econometrics
Real Capital Analytics has acquired Real Estate Econometrics, bringing that company’s founder, Sam Chandan, on board as RCA’s global chief economist and executive vice president, and a member of RCA’s management committee. Chandan holds a Ph.D. in applied economics from the Wharton School of the University of Pennsylvania, where he currently serves as adjunct professor of real estate.
First Smoke-Free Rental Community in N.J.; Good for Health As Well As Turnover Costs
The second phase of Alexan CityView, a Trammell Crow Residential apartment community on the Peninsula at Bayonne Harbor, N.J. is designed to be 100 percent smoke-free. It is the first of its kind in New Jersey and nearly unheard of in the New York Metropolitan marketplace.
Most Renters Will Celebrate Valentine’s Day, Survey Finds
A recent survey conducted by Apartments.com found that more than half renters are celebrating Valentine’s Day this February. The survey talked to more than 900 renters.
DEAL OF THE DAY: Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance
Portland, Ore.–Berkadia Commercial Mortgage LLC originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore.
New LEED Credential Expands to Canada
The Green Building Certification Institute, which provides third-party confirmation of LEED building certification and LEED professional credentialing, has launched the LEED Green Associate (Tier I) credential in Canada. According to the Green Building Certification Institute, the new credential–launched only in 2009–is its fastest growing, having been earned by about 4,500 people worldwide already.