Regions

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…

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…

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…

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…

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…

By Anuradha Kher, Online News EditorCharlotte, N.C.–Arbor Commercial Funding LLC recently funded two loans totaling $6,675,900 under the Fannie Mae DUS product line. These loans include:$2,680,000 under Fannie Mae DUS for Woodfield Gardens, a 132-unit community located in Charlotte, N.C. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6 percent. $3,995,900 under Fannie Mae DUS for Milton Road Apartments (pictured), a 231-unit complex, located in Charlotte, N.C. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6 percent.UIP Acquires 94-Unit Community for Over $4MWashington, D.C.–Urban Investment Partners (UIP) has…

By Anuradha Kher, Online News EditorSussex, N.J.–RTKL Associates has named Lance K. Josal to be its next president and CEO. For the last seven years, Josal has directed RTKL’s Commercial Practice Group, which accounts for more than 30 percent of its gross revenue. He will replace RTKL’s current president and CEO, David Hudson, who is retiring from the company Sept. 1. Josal joined RTKL in 1979 in its Dallas office and most recently has been based in its Chicago office. Dan Nissenbaum Elected to Chairman of National Housing ConferenceWashington, D.C.–Dan Nissenbaum has been elected chairman of the National Housing Conference…

By Erika Schnitzer, Associate EditorJersey City, N.J.—Robert Martin Co. LLC’s The Residences at Dixon Mills has announced a partnership with Zipcar, a service that it will add to its laundry list of amenities already offered to the condominium’s residents. The partnership will put vehicles at Dixon’s doorstep.At the 467-unit Dixon Mills, Zipcar has made two vehicles available for members: a Honda Element and a Mazda 3. Members are able to view vehicle availability and reserve a self-service car via the Internet, iPhone app, or by telephone. Zipcar members are given a “Zipcard,” which contains a wireless chip that opens the…