Regions
DEAL OF THE DAY: Franklin Street Brokers Sale of Distressed Notes on Section 8 Properties
Tampa‑Franklin Street Real Estate Services has arranged the sale of distressed notes on a four-property multifamily portfolio formerly subject to Section 8 contracts.
Freddie Mac Unveils New Anti-Foreclosure Initiative
Freddie Mac and 13 nonprofit organizations have created a pilot program to persuade delinquent borrowers to pursue mortgage workouts to help them steer clear of foreclosure.
Three Affordable Housing Communities in San Francisco Get Solar Power
Sunwheel Energy Partners, which provides turnkey solar energy systems for urban and community partners, has commissioned solar photovoltaic (PV) systems at three affordable housing community sites in San Francisco’s Western Addition and Hayes Valley neighborhoods.
For Rent Media Solutions Promotes Wendy Froehlich to AVP of Marketing
For Rent Media Solutions a division of Dominion Enterprises, recently promoted Wendy Froehlich to assistant vice president of marketing.
DEAL OF THE DAY: Lennar Completes Transactions With FDIC to Acquire $3.05B of Distressed Real Estate Loans
Miami‑Lennar Corporation has purchased two portfolios of loans with a combined unpaid balance of $3.05 billion from the Federal Deposit Insurance Corp. (FDIC). The transactions include approximately 5,500 distressed residential and commercial real estate loans from 22 failed bank receiverships.
NY Condo Buyers Seeking an Out Lose ILSA Case
In a case of first impression in New York–that is, a matter of law that the New York courts haven’t considered before–Judge Denise Cote of the Southern District of New York has ruled against the plaintiffs, two condo buyers, in a lawsuit involving the Interstate Land Sales Full Disclosure Act (ILSA).
MARKET SNAPSHOT: Windy City Relatively Stable Compared to Other Midwest Markets
Apartment operating fundamentals throughout Chicago are expected to remain soft this year, particularly in the suburbs, according to the Marcus & Millichap’s 2010 National Apartment Report.
Fairfax County, Va. Honors Home Properties for Commitment to ‘Green’ Construction
The Fairfax County Department of Public Works and Environmental Services has presented a Land Conservation Award to the newly constructed apartment community, The Courts at Huntington Station in Alexandria, Va., owned by Home Properties, Inc.
Resident Sweepstakes Program Encourages Residents to Pay Rent Electronically
PropertyBridge, Inc. has announced the winner of its $10,000 Resident Sweepstakes program. Molly Charpentier, resident of Heritage Park Senior Community in Alta Loma, Calif. won the PropertyBridge Resident Sweepstakes $10,000 grand prize.
DEAL OF THE DAY: Hendricks & Partners Brokers $3.85M Sale of 50-Unit Property
Rocklin, Calif.‑Hendricks & Partners arranged the sale of Shannon Bay, located at 5757 Shannon Bay Drive in Rocklin, Calif. The 50-unit apartment community was sold for $3.85 million.