Regions

By Anuradha Kher, Online News EditorWashington, D.C.–The National Association of Real Estate Investment Trusts (NAREIT) has announced its 2009 officers, members of its executive committee and new members of its board of governors. Constance B. Moore, president and CEO of BRE Properties Inc. is the new chair. “We approach 2009 in the midst of turbulence in our credit and equity markets,” Moore says. “At a time like this, active participation in policy and practice-oriented representative bodies like NAREIT becomes more important than ever. NAREIT is working hard to ensure that both investors and policymakers understand the value of REITs in…

By Anuradha Kher, Online News EditorHouston–Arbor Commercial Funding LLC recently arranged a $4,699,500 loan under the Fannie Mae DUS product line to finance the 204-unit Sebring Apartments, located in Houston.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.58 percent. “There were several major hurdles to overcome in closing this loan on terms for the client–including the after-effects of Hurricane Ike, which swept through the area during the underwriting process,” says Matt Norman, vice president in Arbor’s lending office in Dallas. 245-Unit Condo Property Sold at U.S. Bankruptcy Court AuctionTampa, Fla.–Cushman & Wakefield recently arranged the…

By Anuradha Kher, Online News EditorBoston–A majority of architects say that multifamily buildings, as well as other commercial buildings, are going green more than other building types (institutional, single-family and industrial), according to the fourth annual Autodesk/AIA Green Index released this week at the GreenBuild Conference and Expo in Boston. This year, the survey measured 287 AIA architects about how they practice sustainable design, as well as their opinions about the green building movement.The 2008 index shows an increase in the implementation of sustainable design practices from architects and building owners. In addition, it shows that architects’ clients have experienced…

By Anuradha Kher, Online News EditorAtlanta–To help companies and individuals struggling with the credit crisis, Morris, Manning & Martin LLP, a law firm based in Atlanta, has launched a commercial real estate debt management practice, offering legal support and practical business advice to real estate owners. Due to the state of the economy and the housing market in particular, several other firms have recently launched groups to help clients deal with financial or management issues. For example, Colliers Abood Wood-Fay recently launched its Distressed Property Services Group and Cushman & Wakefield formed the Resolution Group, a team of property investment…

Boston—BuildingGreen LLC has announced the names of this year’s top 10 green building products in a press conference at the U.S. Green Building Council’s (USGBC) 2008 Greenbuild Expo in Boston. The seventh annual awards program recognizes the top products listed in the GreenSpec Directory, a national directory of green building products, and in Environmental Building News.The following are BuildingGreen’s top 10 green products:Smith & Fong’s PlybooPure Bamboo Flooring    The first bamboo flooring to be FSC (Forest Stewardship Council)-certified, Smith & Fong’s PlybooPure is made with low-emitting, non-formaldehyde polyisocyanurate binder. Measuring 5/8-in. x 3 ¾-in. x 75-in., the floor is available…

Kate Santo (pictured) is a relocation coordinator at Chicago-based Rubloff. Rubloff Residential Properties was founded in 1930. As a relocation coordinator, Santo places Rubloff clients and new transferees with brokerage firms nationwide and internationally. Santo’s job is to understand her clients’ needs and to facilitate transition to a new city, as smoothly as possible.Santo is a certified world relocation specialist and is a Relo certified coordinator. She recently spoke at the Leading Real Estate Companies of the World Fall Workshop in Chicago. Santo tells MHN Online News Editor Anuradha Kher about what it is to be a relocation coordinator and the…

By Anuradha Kher, Online News EditorFoster City, Calif.–Marcus & Millichap Real Estate Investment Services recently arranged the sale of Kula Kai Apartments (pictured), a 42-unit multifamily community in Foster City, Calif. Although the sale price remains confidential, it is close to the listing price of $10.9 million, or nearly  $260,000 per unit. The sale price reflects an overall cap rate that is under five percent, well below the predominant range of capitalization rates evidenced by similar apartment transactions in recent months, and the purchase was financed by Freddie Mac.Located at 808 Comet Dr., the 37,641-sq.-ft. apartment community consists of one…

Architectural Area Lighting Offsets Carbon Emissions Architectural Area Lighting (AAL) introduces its Cubic Indirect fixture, which utilizes LEDs (light-emitting diodes). With an angular design and stainless steel vertical struts, the fixture is available in a square or round upper reflector, designed to direct the illumination to the ground with no stray light, resulting in more light with less energy consumption.The wall-mount version comes with an emergency lighting option that can illuminate corridors, building entrances and exterior passageways. A hidden MR16 lamp can be angled 15 degrees in either direction, providing the code-required, one-ft. candle path-of-egress illumination.The finish consists of a…

Miami–Colliers Abood Wood-Fay recently launched its Distressed Property Services Group. The group brings together an integrated team of resources, disciplines and professionals with over 75 years combined experience in managing distressed assets in inflationary or recessionary markets. The Distressed Property Services Group offers investment sales; capital markets financing; acquisitions and dispositions for equity and debt; work-out exchanges; investment analysis and strategy; joint venture structures; advisory and consulting services; property re-positioning; receiverships and asset management; restructuring of troubled debt, property management and performance evaluation; valuation and appraisal and tax appeals.The Colliers team partners with clients in analyzing their financial risks, evaluating…

By Anuradha Kher, Online News EditorNew York–The U.S. green building market is accelerating at a dramatic rate, McGraw-Hill Construction’s Green Outlook 2009: Trends Driving Change report says. The value of green building construction starts was up five-fold from 2005 to 2008 (from $10 billion to $36-$49 billion), and could triple by 2013, reaching $96-$140 billion, according to the report. While the report does not break down values for each property type, McGraw Hill predicts that $44 billion will be spent on green multifamily housing by the end of this year. For 2009, the company forecasts this number will be $41…