Regions
National Trust for Historic Preservation Presents Awards to Multifamily Developments
The National Trust for Historic Preservation presented 23 awards during its 2009 National Preservation Conference in Nashville, Tenn. Of these awards, two were multifamily-oriented.
Western National Properties’ 195-Unit Rental Community is Nearing Completion
Western National Properties is currently developing a 195-unit multifamily project in the Woodland Hills neighborhood of Los Angeles, which is nearing completion. This project is the first development with the firm’s second private equity fund, Western National Realty Fund II, L.P. The ground-up multifamily development, The Enclave at Warner Center, features a195-unit, four-story apartment complex wrapped around a five-and-a-half story parking structure.
MARKET SNAPSHOT: Leasing Activity Increases in Denver
Overall leasing activity in Denver reached a near-record high during the third quarter of 2009, according to Grubb & Ellis’ Multi-Housing Trends Report—Third Quarter 2009.
Economy Watch – California Incentivizes Green Rooftops
Gov. Arnold Schwarzenegger was busy over the weekend signing off on policies that could have an impact on green real estate development. Among other things, he signed a memorandum of understanding with U.S. Secretary of the Interior Ken Salazar to expedite the siting of California renewable energy projects, thus making California the first state to do so. The memorandum commits the federal government to work with California to review and approve renewable energy applications in the state.
Riverstone Residential Group Names Industry Veteran Walt Smith New CEO
Riverstone Residential Group has named industry veteran, Walt Smith, as the company’s new Chief Executive Officer. Smith will lead the overall operations and board of director efforts for Riverstone, a privately owned, third party multifamily property management company in the United States and a subsidiary of CAS Partners.
TODAY’S DEAL: Marcus & Millichap Arranges Sale of 136-Unit Rental Property for Over $33M
Marcus & Millichap Real Estate Investment Services has brokered the sale of Waterstone Millbrae, a 136-unit, 114,440-sq.-ft. multifamily property in Millbrae, Calif. The sale price of $33,782,500 represents $248,400 per unit and $295 per square foot.
Asset Plus, Meeks + Partners Celebrate Grand Opening of Mixed-Use Student Housing Community
Asset Plus Companies, along with Meeks + Partners, recently celebrated the grand opening of The Lofts at Wolf Pen Creek, a 679-bed mixed-use student housing community.
James R. Gillespie Named Distinguished Alumnus by College of Applied Health Sciences
Jim Gillespie, President and CEO of Coldwell Banker Real Estate LLC, Parsippany, New Jersey, has received the 2009 Distinguished Alumni Award from the College of Applied Health Sciences at the University of Illinois at Urbana-Champaign. He was honored for his outstanding contributions to business and community growth through leadership and philanthropy. The award was announced Friday, October 9, 2009, during ceremonies at Huff Hall.
Lighthouse at Oyster Bay Is Now Open
The Lighthouse at Oyster Bay, St. Maarten’s newest privately owned luxury condominiums, and the Pavilion, a 40-unit timeshare building is now open.
TODAY’S DEAL: Cushman & Wakefield Arranges $43M Sale of 2 Atlanta Properties
Cushman & Wakefield has completed the sale of two suburban Atlanta properties: Madison at River Sound, a 586-unit apartment complex located in Lawrenceville, and Covington Glen, a 254-unit apartment complex located in Decatur.