Regions
Why 2010 Is The Year of Property Management
As banks become accidental multifamily property landlords more than ever before through foreclosure and other unfortunate economic events, third-party property management is stepping in to be of service. Even in a recession, someone’s going to make money, and multifamily property managers want it to be them.
Magellan’s Aqua at Lakeshore East Captures International Skyscraper Design Award
Skyscrapers that show outstanding
DEAL OF THE DAY: HFF Maximizes Proceeds on $105.4M Sale of Small-Balance Loan Pools to Individual Investors
HFF (Holliday Fenoglio Fowler LP) completed the sale of two small-balance commercial real estate loan pools totaling $105.4 million on behalf of a special servicer and a money-center bank.
Terry Danner Is New President of Riverstone Residential
Riverstone Residential Group has named 21-year industry veteran, Terry Danner, as President. Danner will report to Walt Smith, Riverstone’s Chief Executive Officer, and oversee the company’s property operations while Smith directs the global operations, business strategy and board of director efforts for the organization.
Bill Granger Joins CTO of Walker & Dunlop
Bill Granger has joined Walker & Dunlop as chief technology officer in the company’s Bethesda, Md. headquarters. Granger will be responsible for Walker & Dunlop’s information technology infrastructure at a time of significant growth for the company.
INVESTMENT: Carlton Offers Over $300M of Multifamily, Land and Other Assets for Sale
Carlton Advisory Services Inc. has been retained to bid more than $300 million of hospitality, multifamily, office, retail and land assets, according to Carlton Chairman Howard L. Michaels. The majority of the assets are located in Florida, with the remainder located in California, Virginia, Missouri, Minnesota, Nevada, S. Carolina and Tennessee.
Severe Winter Weather Causes Pending Condo Sales to Drop
Pending home sales, including both single-family and condo properties, showed an unexpected decline in January, according to the National Association of Realtors (the organization doesn’t separate the kinds of residential property in this case), partly due to bad weather across the Northeast.
Report: Seniors Housing Occupancy Falls, Rents Rise in 4Q of 2009
Occupancy rates fell for seniors housing in the last quarter of 2009, but the property type still enjoyed moderate rent growth, according to NIC MAP, a data and analysis service of the National Investment Center for the Seniors Housing & Care Industry (NIC).
DEAL OF THE DAY: HFF arranges $12M Construction Loan through Bank for Wood Partners’ Apartment Project
The Boston office of HFF (Holliday Fenoglio Fowler LP) arranged a $12 million construction loan for Alta at Indian Woods Apartments, a 154-unit, to-be-built multi-housing community in Stoughton, Mass.
A Walkable Community Comes to Irvine
A section of The Park, a sister residential project to the Village at Irvine Spectrum, is now open for leasing. The project is designed by MVE & Partners to be a high-density walkable community in an area and state where cars the primary mode of transport for most people.