Regions
ON DEMAND WEBCAST: Legislative and Regulatory Trends in Utility and Energy Management
Laws mandating submetering and energy benchmarking are spreading across the country. This webcast outlines laws, regulations and legalities impacting utility and energy management, as well as legislative trends that ultimately can have implications for the bottom line of apartment owners and managers. View a recording of this webcast. Leading the panel is Michael Foote, NWP Services Corp.’s senior regulatory and corporate counsel. Foote is regarded as an industry expert in utility billing laws. Foote is joined by Mary Nitschke, director of ancillary services, at Prometheus Real Estate Group. At Promethues, Nitschke’s responsibilities include managing utility consumption, mining for rebates, determining…
Suburban Chicago Multifamily Obtains $8.5M in Financing
Hawthorn Ridge Apartments, a multifamily community in Woodridge, Ill., has obtained an $8.5 million Section 223(f) loan. Naftali Schuss, an originator in Greystone’s New York office, arranged the financing.
TODAY’S DEALS: ARA Brokers Denver Sale for $27.8M
A 150-unit asset trades hands in Denver; The Canyon Catalyst Fund and Sack Properties form a joint venture investment partnership targeting Northern California value-add properties; and Cushman & Wakefield completes the sale of a redevelopment site in Montclair, N.J.
Plans Announced for Student Housing at Georgia Tech
Planning is underway on the latest University House property, this one to be built near the campus of the Georgia Institute of Technology, better known as Georgia Tech, in Atlanta.
Economy Watch: Gas Prices Spike
Mortgages weren’t the only thing seeing an increase in price recently. An arguably more visceral increase has struck the U.S. economy—and with it, consumer’s propensity to spend money to support growth—a rise in the price of gas.
Brooklyn Apartments Sell for $28M
Silverstone Property Group and Adam America Real Estate Group have sold 65-69 North 6th St. in the Williamsburg neighborhood of Brooklyn. The property fetched $28.75 million from an unspecified buyer, according to the sellers.
Vitus Group Plans $8M Renovation on Calif. Affordable Community
Vitus Group announced that it has acquired the St. John’s Apartments, a 158-unit affordable housing community in Richmond, Calif. The company plans to spend $8 million on renovations to modernize the community.
Springs of Corpus Christi Slated for Fall 2014 Completion
Construction on the Springs of Corpus Christi, a 284-unit town home style luxury apartment community in Corpus Christi, Texas, has been awarded to McShane Construction Company by developer Continental Properties Company Inc.
TODAY’S DEALS: JV Sells Brooklyn Mixed-Use Asset for $28.8M
Silverstone Property Group and Adam America sell a property is Williamsburg; and Greystone provides $8.5 million in HUD financing for an Illinois property.
VantageScore Credit Scoring Model Adds to Flexibility of Yardi Resident Screening
Yardi announced today that its proven rules-based resident screening solution, Yardi Resident Screening , now includes VantageScore credit scores, an advanced numerical scoring option from Experian for clients who prefer three-digit credit scores to help qualify applicants.