Northeast
Affordable Housing Proves to be Engine for Local Economic Improvement in NYC
New York–The economic benefits of affordable housing, beyond the provision of much-needed low-cost apartment residences, is threefold.
Colliers Expands Business into Seniors Housing Sector with Launch of New Group
Colliers International is turning its attention to one of the most solid commercial real estate sectors with the creation of its Seniors Housing Practice Group.
DEAL OF THE DAY: Walker & Dunlop Navigates Complex Leasehold Refi Loan
Lancaster, Pa. Walker & Dunlop provided a refinance loan of the leasehold interest on the Bentley Ridge Apartments located in Lancaster, Pa. The loan was structured with a 10-year term and a 30-year amortization. Walker & Dunlop says it was able to leverage over 20 years of Fannie Mae Multifamily underwriting experience in order to quickly address all issues involved with the transaction, including Fannie Mae leasehold guidelines, to position the borrower to lock in a low interest rate. Greg Cassel of High Real Estate Group, LLC comments, “We appreciate the opportunity provided to us by Walker & Dunlop in…
Submeters Save Energy, According to NYC Demonstration
New York–Does submetering at an apartment complex reduce energy usage throughout the property?
Enterprise Community Partners Names J. Ronald Terwilliger Chairman of the Board
Columbia, Md.–The Board of Trustees of Enterprise Community Partners, Inc. has elected J. Ronald Terwilliger to succeed Norman Rice as board chairman. Terwilliger has been a member of the Board of Trustees of Enterprise Community Partners since 2007 and currently serves as co-chair of the Enterprise Real Estate Leadership Council. He is also chairman emeritus of Trammell Crow Residential, a national residential real estate company and the largest developer of multifamily housing in the United States. “Terwilliger has been a member of our Board of Trustees and now as chairman will provide excellent guidance and leadership to Enterprise,” says Doris…
DEAL OF THE DAY: Marcus & Millichap’s Special Asset Services Brokers $25.5M Whole Loan Sale in Bergen County, N.J.
Elmwood Park, N.J.–It is a four-property garden-style apartment portfolio.
Deadline for MHN Awards has been extended to July 8!
Finalists will be announced in August and winners will be published in Multi-Housing News Magazine and MHN Online Daily.
Take the MHN Survey: How did the homebuyer tax credit program affect your portfolio?
Did you lose residents who left to purchase homes or are you losing fewer residents now that it has expired.
Enterprise Names Robert Grossinger Vice President, National Foreclosure Response
Columbia, Md.– Robert Grossinger will join Enterprise Community Partners, Inc as vice president for national foreclosure response. Grossinger joins the company from Bank of America, where he was senior vice president in the corporate social responsibility group overseeing the bank’s neighborhood stabilization efforts, including its Real Estate Owned sales to Neighborhood Stabilization Program (NSP) recipients. As vice president for national foreclosure response, Grossinger will work with a broad set of partners to provide thought leadership on an appropriate response to the foreclosure crisis as well as identify opportunities for earlier intervention prior to foreclosure. He will oversee the implementation of…
Demand Perks Up, Ground Breaks on Phase Two of Palmer Hill Condos
Stamford, Conn.–Buyers do not appear to be dissuaded by the price tags attached to the Palmer Hill residences.