Regions

Santa Barbara, Calif.—Affordable housing provider National Community Renaissance (National CORE) has selected Yardi Voyager for its reporting, compliance and property management processes. Prior, National CORE utilized two separate property management systems to manage more than 70 properties. With Yardi Voyager Affordable Housing, National CORE now draws data from across the entire organization into one centralized database, reducing the time and effort required to consolidate reports and facilitating portfolio-wide oversight. Having fast access to all relevant information helps National CORE meet the strict government compliance standards required of affordable housing providers.  “Yardi Voyager helps us operate more efficiently because with Voyager we…

By Anuradha Kher, Online News EditorWashington, D.C.–Love Funding has closed a $9,401,500 refinance loan for a multifamily housing complex located in Colorado Springs, Colo. The firm was able to secure FHA financing for the transaction.Love Funding closed the loan for the 496,623 sq. ft., 216-unit Apollo Village (pictured). By utilizing HUD’s 223(f) loan program, Love Funding was able to secure a 6.25 percent fixed interest rate with a 35-year amortization for the borrower, Apollo Apartments LLC. This transaction brings the total amount Love Funding has secured for Apollo Apartments, LLC to more than $13 million.Arbor Closes $8,775,000 Fannie Mae DUS…

Phoenix–Ric Holway (pictured) has joined Hendricks & Partners as a partner in the firm’s Phoenix office. Prior to this, Holway worked with a national investment brokerage competitor, where he was a senior vice president and was consistently ranked one of the firm’s top apartment brokers nationwide. “After investing 17 years of my life growing relationships and assisting clients build their net worth, the shift in today’s market caused me to reconsider the needs of my clients,” says Holway. “Today’s market demands more than just business as usual, it requires experience in dealing with today’s issues, as well as focus, innovation…

By Erika Schnitzer, Associate EditorWashington, D.C.—The National Association of Home Builders’ (NAHB) Certified Green Professional (CGP) designation is growing in popularity, with over 2,700 home building industry professionals having achieved this status.”It is designed to give those who achieve it a better understanding of what green building is and allows them to separate themselves from their competition to their clients,” Chad Reidy, program manager of green building technologies at NAHB, tells MHN.The designation, which was first launched in 2008 at the International Builders Show (IBS), is awarded after the successful completion of 24 hours of classroom instruction on green building…

By Anuradha Kher, Online News EditorChicago–The availability of on-site recycling programs at multifamily communities has increased by 16 percent and that of energy-efficient windows by nine percent since 2007, according to a recent study conducted by Apartments.com.Simultaneously, it seems that renters are becoming more conscious of the environmentally friendly measures they can take in their homes. For example, to conserve energy, 52 percent of renters are turning off lights and computers when not in use, setting air conditioners and heaters on timers and using energy-efficient light bulbs, according to the latest national survey conducted by Apartments.com. An additional twenty-two percent…

Irvine, Calif.–NWP Services Corp. (NWP) has signed an agreement with BluTrend LLC to offer the CSASecure service to NWP’s utility billing clients in Texas and Georgia.“CSASecure extends our processing capabilities to prevent occurrences of utility theft by apartment residents and expedites recovery of all costs for our clients’ multifamily communities that would otherwise be lost,” says Michael Radice, president and CEO of NWP Services Corp.While NWP currently offers utility theft recovery services nation-wide as part of its UtilityPay Manager product, the company will also provide the CSASecure service in the deregulated electric and natural gas utility markets of Texas and…

By Erika Schnitzer, Associate Editor Washington, D.C.—This Friday, National Housing Trust-Enterprise Preservation Corp. (NHT-Enterprise) and The Hampstead Development Group will celebrate the grand re-opening of R Street Apartments, a 124-unit green, affordable housing community in Washington D.C.’s Logan Circle neighborhood.“To be able to preserve these apartments in that neighborhood is just huge,” Rob Richardson, senior project manager for NHT-Enterprise, tells MHN. “Most of the city’s affordable housing has been developed or preserved east of the river because that’s where land and buildings are the least expensive. The city recognized that it needs to preserve diversity in all neighborhoods.”Originally built in…

By Anuradha Kher, Online News EditorWashington, D.C.–Walker & Dunlop provided a $7 million refinance loan for the Garfield House (pictured top) located on Wisconsin Avenue in Washington, D.C. The loan was structured with a 10-year term and a 30-year amortization and was underwritten to a 52 percent Loan-to-Value with a 1.56 Debt-Service Coverage ratio. Walker & Dunlop utilized Fannie Mae’s Dual DUS ERL commitment to allow the borrower to early rate lock the interest rate on a majority of the total loan proceeds and come back for additional proceeds based on the final due diligence prior to closing. The Garfield…

Rob Käll is a ‘technopreneur’, who in 2008 founded Bookt, a provider of search engine optimization, as well as marketing and other professional services to the global vacation rental industry. He has over 12 years of experience in developing and implementing real estate and property Web sites. He is knowledgeable about emerging Web technologies, especially as they are applied to the travel industry, as well as behavioral targeting and engagement, deciphering marketing trends into widgets and applications, and online distribution hubs beyond the GDS.Käll talks to MHN Online News Editor Anuradha Kher about trends in the vacation rentals industry, how…

Carrollton, Texas–MyNewPlace, one of the largest apartment Internet Listing Services with more than 6 million apartment listings nationwide, has joined the OpsTechnology Supplier Community to enable eBilling for its customers. With the OpsTechnology invoice management solution, customers will receive eBills from MyNewPlace, eliminating the paper handling associated with invoice processing to improve accuracy, and save money and time.”We were immediately excited at how it expedites the pay cycle,” says Kenneth Cluff, vice president of technology and co-founder of MyNewPlace. “With this solution, we send one electronic file directly to OpsTechnology. The system routes the invoices to each property, which guarantees…