News
Apartment Finder Launches iPhone App
Apartment Finder has launched a new application that provides iPhone and iPod Touch users access to all its listings. Prospective residents can now use their cell phones to map apartment listings nearby or email or call properties directly for more information.
CBRE to Sell Chicago’s Largest Master-Planned Community
CB Richard Ellis has been retained to sell Grande Reserve, Yorkville. With a total of 1,877 residential units situated on 771 acres, this is the largest master-planned residential community in the Chicago area to come to market.
Aries Capital Launches Multifamily Division
Aries Capital recently announced the formation of Aries Multifamily, a new operating division of the firm that will provide loans under $5 million for apartment properties across the nation. The new division will be led by Ryan Welsh, a commercial real estate executive with more than 10 years of experience incorporating commercial and multifamily underwriting, loan origination, portfolio management and loan sales.
New Associations Formed for Student Housing, Research Specialists
Jack Kern, managing director at Washington, D.C.-based Kern Investment Research LLC, and Dr. Sam Chandan, president and chief economist of Real Estate Econometrics, recently announced the launch of The National Student Housing Council (NSHC) to focus exclusively on the student housing sector. John Buttarazzi, owner of Varsity Capital Advisors, is the organization’s founding advisory board president.
In Historic Federal Courthouse, Co. Builds 176 Workforce Housing Apartments
The Alexander Co. of Madison, Wisconsin, has acquired the historic U.S. Federal Courthouse in downtown Kansas City, Miss. The company will renovate the 72-year old Courthouse into 176 workforce-housing apartments as part of a $35 million public/private partnership.
Cornerstone Group Delivers First Building in Second Phase of Townhome Community
The Cornerstone Group has announced the delivery of the first building in the second phase of construction at Preserve at Boynton Beach, a 180-unit townhome and villa community.
Organization Launches $4B Green Initiative for Affordable Housing
The green movement in commercial real estate has caught on like wildfire and even with the recession having left most clutching their pocketbooks, it continues to spread. Now Columbia, Md.-based Enterprise Community Investment Inc. plans to take the trend to new heights with the kicking off its $4 billion Green Communities initiative, which is designed to propel the greening of affordable housing development across the country. Enterprise, a development capital and solutions provider for affordable housing, leverages low-income housing, new markets and historic rehabilitation tax credits, as well as short and long-term debt to finance development and retrofitting projects. The…
Renters Are Willing to Pay More Rent for Additional Security Amenities
Renters seek a safe haven when searching for an apartment. According to a national Apartments.com survey—conducted during national crime prevention month—96 percent of respondents said neighborhood crime rate influences where they choose to live.
MBA Voices ‘Serious Concerns’ Over Consumer Financial Protection Bill
The Mortgage Bankers Association (MBA) said it has “serious concerns” with the legislation passed by the House Financial Services Committee that would create a consumer financial protection agency.
Existing-Home Sales Increase With First-Time Buyer Momentum
Existing-home sales bounced back in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors (NAR).