Regions
Pinnacle Expands Into the Midwest; Office Was Strategic Objective, Says Kevin Charcut
Pinnacle has opened a new office in Kansas City, Mo. The new office is the headquarters for the Great Plains region, which includes Missouri, Nebraska, Kansas, Colorado, Wyoming and southern Iowa. The regional office is strategically located to offer enhanced service and access to Pinnacle’s growing resident and client base.
International Buyer Demand for U.S. Real Estate Decreased Due to Recession
Interest in U.S. real estate from international buyers declined due to the worldwide recession and severe credit crunch, according to the 2009 National Association of Realtors Profile of International Home Buying Activity.
Prudential Preferred Properties and Rubloff Residential Properties Merge
Prudential Preferred Properties and Rubloff Residential Properties have merged to form Prudential Rubloff Properties, an independently owned and operated firm with 17 offices and nearly 900 sales professionals and staff.
Expert: U.S. Falling Behind Europe in the Green Race
While America’s green building market will likely continue its rapid growth over the coming years, architects, developers and contractors in the U.S. could still learn a lot from their European counterparts, according to engineer Jerry Yudelson, a green building proponent.
Housing Conference Examines Global and Local Impact of Credit Crunch
The far-reaching impact of the global credit crunch was discussed by academics and experts at the recent “Housing Assets, Housing People” conference at the University of Glasgow. The four-day event was hosted by the International Sociological Association’s Research Committee 43—a group of academics from various disciplines who study aspects of housing—as well as the University of Glasgow.
TODAY’S DEALS: Ritz Plaza Receives $151M in Financing, and Other Transactions
By Anuradha Kher, Online News EditorNew York–On behalf of Stonehenge Management, Meridian Capital Group has arranged $151 million in financing for The Ritz Plaza (pictured left), a multifamily property located at 235 West 48th St. in New York City. The Ritz Plaza is a 43-story building featuring 479 luxury rental apartments and 30,000 square feet of retail and office space. The 10-year fixed rate loan has an interest rate of 5.34 percent and features two years of interest only payments. “The timing of the rate lock was precise,” says Abe Hirsch of Meridian. “The borrower was able to take full…
Results of LoopNet Survey Regarding Recovery, Pricing, When Market WIll Hit Bottom
LoopNet, Inc., which operates an online commercial real estate marketplace with more than three million members, recently announced the results of a just-closed “LoopNet Pulse Poll.” More than 2,000 LoopNet members responded to the poll, which was conducted from July 16, 2009, through July 24, 2009. LoopNet members include commercial real estate investors, brokers and owners who use the LoopNet marketplace to search for available space and investment opportunities, as well as to market available properties. Commercial Real Estate Market Recovery Timing?Investor sentiment regarding the timing of a recovery in commercial sales transactions has slipped since our last survey in May. Only…
First Phase of Transit-Oriented New Jersey Development Opens for Leasing
By Erika Schnitzer, Associate EditorMorristown, N.J.—Leasing has begun at The Highlands at Morristown Station, a new 217-unit rental building located in the heart of downtown Morristown, N.J.Developed by Rosewood—a joint venture between Roseland Property Co. and Woodmont Properties—the development is part of the state’s Transit Village Program, which encourages development at and around major train centers.The project is a public-private partnership with New Jersey Transit, who originally owned what was once a 300-parking space surface lot for the train station, Debra Tantleff, vice president at Roseland Property Company, tells MHN. The new five-story development features 772 parking spaces—415 of which…
USGBC Accepted as First Education Reviewing Body for GBCI
Washington, D.C.–The Green Building Certification Institute (GBCI) has accepted the U.S. Green Building Council (USGBC) as the first Education Reviewing Body (ERB). With ERB status, USGBC is now authorized to review and approve continuing education offerings under the LEED Professional Credentialing Maintenance Program. ERBs must meet organizational and technical criteria established by GBCI, demonstrating capacity, subject matter expertise and compliance with best practices.“GBCI’s commitment to providing a suite of LEED professional credentials that keep pace with the demands and the evolution of the marketplace is dependent on a credential maintenance program that sets the bar for cutting-edge, innovative and diverse…
Former Executive Director of Congress for the New Urbanism Chosen to Lead Possible Office of Sustainable Communities at HUD
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Housing and Urban Development has appointed Shelley Poticha as senior advisor for Sustainable Housing and Communities. She will direct the office if the bill seeking to create it becomes law. “Poticha will help lead HUD’s effort to change the way we think about our communities,” says HUD Secretary Shaun Donovan. “Her wealth of experience will help move us forward in creating sustainable, greener and smarter communities.”HUD is working with Senate Banking Committee Chairman Chris Dodd (D-CT) on legislation that seeks to create the Office of Sustainable Housing and Communities at HUD.Poticha…