Not Endorsed
House Financial Services Committee Takes Key Step Toward Enacting Choice Neighborhoods Initiative
Washington, D.C.–The House Financial Services Committee took a key step toward the enactment of an Obama Administration priority, the Choice Neighborhoods Initiative. This proposal is designed to transform distressed neighborhoods and public and assisted housing developments into viable and sustainable mixed-income neighborhoods by linking housing improvements with appropriate services, schools, public assets and access to jobs. The initiative was passed on a 42 – 27 voted by the committee as part of a larger public housing measure (H.R. 5814) that also included proposals aimed at clarifying federal rules for replacement of demolished housing units, and providing new methods for financing…
John Kerin is New President & CEO of Marcus & Millichap
Encino, Calif.–Previously, Kerin was a senior vice president and managing director of the firm, overseeing 18 offices nationwide.
Value Cos. Launches Third-Party Property Management Division
Clifton, N.J.–Value Companies has launched a new division to provide full-service management capabilities and customized asset solutions to third-party real estate investment and property owner clients throughout the country.
Kettler Property Wins PARAGON Community of the Year
Arlington Va.–Kettler Management’s The Metropolitan at Pentagon City in Arlington, Va., was named National Apartment Association’s (NAA) PARAGON Community of the Year.
Campus Advantage Promotes Duckett to Chief Business Development Officer and EVP
Austin, Texas–Campus Advantage has promoted Scott Duckett to chief business development officer (CBDO) and executive vice president. As the CBDO, Duckett oversees the company’s business development, market strategy and investor services. Prior to his promotion, he was senior vice president of professional services. He joined the company in 2005 as the director of business development. “Duckett has been instrumental in building our industry-leading higher education development services,” says Mike Peter, president and CEO of Campus Advantage. “We are in a strong position to take advantage of a recovering investment landscape and robust student housing prospects.”
LeasingDesk Introduces Event Liability Insurance for Residents
Carrollton, Texas–LeasingDesk has announced the availability of special event liability insurance for residents who host one-day gatherings in property clubhouses or at other local off-site locations. “This affordable liability protection is designed to provide protection to the resident and the property owner that a standard renter’s policy does not provide,” says David Carner, president of LeasingDesk. “We believe liability protection will soon become a requirement for many properties any time the clubhouse is rented, because it offers protection to the owner and the resident and the cost is not prohibitive.” Offered through eRenterPlan, which specializes in insurance products for apartment…
Fortress Funds to Purchase CW Financial Services
New York–Affiliates of certain Fortress managed funds have agreed to acquire CW Financial Services (CWCapital). Fortress has agreed to acquire CWCapital from majority shareholder Otéra US Holding Inc. Terms of the transaction were not disclosed but the CW Capital franchise includes a $183.6 billion servicing, special servicing and investment management portfolio. Closing of the transaction is expected during the third quarter subject to regulatory approvals and closing conditions. Beekman Advisors, Inc. served as advisor to CWCapital. Founded in 1972, CWCapital manages, invests in, originates, and advises on commercial and multifamily real estate debt products.
Wood Partners Expands Acquisition Team
Atlanta–Wood Partners L.L.C. is expanding its acquisition team with the hiring of Curtis Walker and Don Foster, both investment executives who will take on senior roles with the company. “This gives Wood Partners a tremendous advantage in a competitive market for existing multifamily properties,” says Chief Financial Officer/Chief Operating Officer Joe Keough. “Our network of development partners in 13 offices nationwide gives us in-depth knowledge to perform superior on-the-ground research. Curtis and Don clearly enhance our in-house expertise as we move aggressively on the acquisition front.” Walker and Foster join National Acquisition Director Jay Jacobson, as they target top 20…
Malcolm Gladwell Speaks at Colliers International’s First Global Leadership Summit
York‑Colliers held its first annual Global Leadership Summit in Manhattan recently. The three-day meeting, which brought together clients and Colliers brokers from all over the world, concluded with a talk by best-selling author Malcolm Gladwell at the Jazz at Lincoln Center theater.
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…