Prominence
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.
Waterfront Condos in Philly Go on Market at 40% Discount
Philadelphia–It’s a buyers’ market right now and these condos are selling for a huge discount.
Vancouver’s Big Win
Unlike some other Olympic Villages, the newly named Millennium Water is a permanent installation, on track to becoming Canada’s first LEED Platinum neighborhood
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…
In Wake of Oil Spill, Vacant Units in New Orleans Gobbled Up by Corporate Housing
New Orleans–As devastating as the oil spill is, it seems to have created a mini job-boom in the state of Louisiana.
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…
RealPage Acquires eREI
Carrolton, Texas–eREI is the maker of on-demand Lead2Lease customer relationship management (CRM) system.
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…
Extreme Weather: Impact on Where, How We Build
Extreme weather, causing larger storms, stronger winds and more flooding than ever before.