News
MBA Elects Michael D. Berman as Vice Chairman
San Francisco–Michael D. Berman, CMB, president of CWCapital of Needham, Mass, has been elected as the vice chairman of the Mortgage Bankers Association (MBA) during the association’s 95th Annual Convention & Expo in San Francisco. Berman is a founder and principal of CW Financial Services and serves on its Board and as the company’s chief operating officer. In that capacity, he provides strategic input into the company’s vertical integration businesses, including multifamily/commercial lending and servicing, investment in high-yield commercial mortgage backed securities, CMBS special servicing, and mezzanine investment funds. Berman is also the president of CWCapital, the company’s multifamily/ commercial…
Catholic Health Initiatives Donates $6M to Mercy Housing for Work in Affordable Housing Sector
By Anuradha Kher, Online News EditorOmaha, Lincoln, Neb., and Council Bluffs, Iowa–Catholic Health Initiatives (CHI) is donating $6 million to Mercy Housing for its work in the affordable housing sector. The company builds affordable homes for low-income families, seniors and people with special needs in Omaha and Lincoln, Neb., and Council Bluffs, Iowa. CHI is one of the largest health care providers in Nebraska with four hospitals and other related facilities across the state. “Part of our mission at CHI is to reach beyond the walls of our hospitals and health facilities and work with other providers of health and…
Final Phase of D.C. Mixed-Use Development Now Leasing
By Erika Schnitzer, Associate EditorWashington, D.C.—Lowe Enterprises, based in Los Angeles, recently began leasing units at The V Apartments at CityVista. The 244-unit apartment building is the final phase of an 843,000-sq.-ft. mixed-use development in Washington D.C.’s Mount Vernon Triangle neighborhood. Along with Lowe Enterprises, the development team is a partnership between CIM Group, Bundy Development Corp., The Neighborhood Development Company, and the District of Columbia. Torti Gallas and Partners is the CityVista master planner.The $240 million, 3.2-acre CityVista development broke ground in 2005 on the former site of the D.C. Wax Museum. It was developed in response to the…
HUD Hosts Symposium to Address Regulations Restricting Affordable Housing Production
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development (HUD) recently hosted a national affordable housing symposium in Washington, D.C. to confront excessive and unnecessary regulations that are restricting the production of affordable housing for working families. HUD recognized several communities for reducing or eliminating regulatory barriers to affordable housing, including Austin, Texas; Bartlesville, Okla.; Bowling Green, Ky.; Montgomery County, Md.; Minneapolis, Minn.; Traverse City, Mich.; Commonwealth of Puerto Rico; and Savannah, Ga. “When it comes to encouraging the production of affordable homes, these communities are getting the job done,” says HUD Secretary Steve Preston….
NanaWall Launches Energy-Efficient Folding Glass Wall System
NanaWall Systems recently launched its energy-efficient glass wall, NanaWall WD66, a wood system with Heat Mirror glazing, a high-performance insulating glass that reportedly provides as much insulation as a solid wall. The WD66 is Energy Star-rated, has a U-factor of .23 and a .31 Solar Heat Gain Coefficient. Designed to provide high weather resistance, it is available as a top-hung or floor-mounted system.NanaWall Systems glass walls can be installed in place of a traditional wall and can be fitted into openings from eight to 40 ft. The WD66 system can be provided with various folding door and window combinations. Available…
Development and Design: Boutique Housing
usually grouped together and placed in the front of the buildings similar to a hotel.These are being treated more as public spaces than shared tenant spaces. The design of the connected spaces should be cohesive and unified. That is not to say that the finishes are all the same—or of the same level—but they do have a relationship to each other. For example, an aerobics room connected off of the main two-story lobby does not require the same finishes as the lobby, but it may have a paint or wall detail that reflects something seen in the lobby.The spatial connectivity…
TODAY’S DEALS: GPX Realty Partners Acquires 128-Unit Rental property for $13.12M, and Other Transactions
By Anuradha Kher, Online News EditorHarleysville, Pa.–GPX Partners L.P. has recently acquired Village Square, a 128-unit garden-style apartment community, located at 422 Main St. in Harleysville, Pa., for $13.12 million.“Village Square is a strong addition to our growing multifamily portfolio,” says Joseph Conwell, managing director of GPX Realty Partners. “The combination of the very desirable location and our capital improvement plans will result in a high quality of living for the residents.”Built in 1972, Village Square is situated on 10.7 acres and features one- and two-bedroom units ranging from 715 sq. ft. to 875 sq. ft. Amenities in this garden-style…
Cubellis, 5 Capitals Form Association to Provide Green Building Advice, LEED Services to UAE Developers
By Anuradha Kher, Online News EditorBoston–Cubellis, an international architecture, interior design and engineering firm, has entered into an agreement with 5 Capitals Environmental and Management Consulting to form an association that will provide sustainability and green building advice along with LEED (Leadership in Energy Environmental Design) accreditation services to developers in the United Arab Emirates (UAE). The firm will operate from its headquarters in Dubai with the help of an expert team of six to eight people that has extensive experience helping businesses find solutions to their environmental and sustainability challenges.The new association, created by Cubellis and 5 Capitals, will…
Collegiate Development Services, Harrison Street Real Estate Capital Mark Grand Opening of Central Missouri Student Housing
By Erika Schnitzer, Associate EditorWarrensburg, Mo.–Collegiate Development Services LP (CDS), based in Irving, Texas, and Chicago-based Harrison Street Real Estate Capital recently celebrated the grand opening of Collegiate Station at Warrensburg, the newest student apartment housing project for the University of Central Missouri.The 360-bed development comprises eight acres and five three-story garden apartment buildings. It offers 60 two-bedroom/one-bathroom units and 60 four-bedroom/two-bathroom units. Unit amenities include a full kitchen, furnished living room and bedrooms, cable television, high-speed Internet access and intrusion alarms. Additionally, the project offers a 4,257-sq.-ft. clubhouse that features a computer lab, media room, fitness center, kitchen, pool…
Swan Introduces Decorative Inlay Kit
The Swan Corp. has launched a new decorative inlay kit (DS-1260GO) for use with Swanstone Shower Walls. The decorative wall strips enhance and extend shower panels.The kit, available in a geometric pattern, consists of accent strips that inlay into Swanstone wall panels, creating both an extension of the wall and an added aesthetic touch.The new decorative inlay kit is made of reinforced solid surface material with color and texture that will not wear away. The easy-to-install kit creates a watertight seal. Each decorative inlay kit includes three decorative strip panels, six T strips, an installation kit and instructions. The kit…