West
MyNew Place, Walk Score Form Partnership to Boost Walkable Communities
Apartment dwellers have typically focused on factors such as the length of their commute to work and the quality of schools when choosing which community to live in. But, a community’s walkability also seems to be playing a larger role in the decision-making process.
Student Gets Free Rent For Whole Year at Campus Advantage Property
Premier USC university housing apartments, University Gateway, gave away an entire free year of housing to one lucky USC student. When the USC Sophomore, Pamela Ho, told her parents, they didn’t believe it.
Arbor Oaks Project Incorporates Soothing Colors, Windows to Eliminate Institutional Look
Architecture and interior design firm, Faulkner Design Group, has recently been chosen to provide interior design and planning services for Arbor Oaks at Crestview in Bryan, Texas.
Dominium Management Services Hires Debbie Vail
Debbie Vail has been named regional manager of Dominium Management.
NWP Services Corp. Validates Compliance with Payment Card Industry
NWP Services Corp. (NWP) has been validated compliant with the Payment Card Industry Data Security Standard (PCI DSS) as a Level 1 service provider. Trustwave performed the validation.
Three Affordable Housing Communities in San Francisco Get Solar Power
Sunwheel Energy Partners, which provides turnkey solar energy systems for urban and community partners, has commissioned solar photovoltaic (PV) systems at three affordable housing community sites in San Francisco’s Western Addition and Hayes Valley neighborhoods.
DEAL OF THE DAY: Hendricks & Partners Brokers $3.85M Sale of 50-Unit Property
Rocklin, Calif.‑Hendricks & Partners arranged the sale of Shannon Bay, located at 5757 Shannon Bay Drive in Rocklin, Calif. The 50-unit apartment community was sold for $3.85 million.
DEAL OF THE DAY: Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance
Portland, Ore.–Berkadia Commercial Mortgage LLC originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore.
NWP Services Corp., RealPage Both Launch New Programs for the MF Industry
NWP Services Corp.’s (NWP) TotalCSA is a 100 percent Vacant Recovery solution for the apartment industry. Part of NWP’s CSA Monitor offering, TotalCSA allows for identification, automated resident billing and recovery of 100 percent of electric and gas expense due to utility theft during the apartment resident’s lease, from the move-in to move-out date. TotalCSA is expected to recover 30 percent more in vacant charges.
MARKET SNAPSHOT: Sacramento Supply Constraint a Bright Spot
The biggest bright spot for the multifamily market in the Golden State’s capital is the fact that there is no new supply coming online, which will eventually lead to positive absorption, notes Mark Leary, principal in ARA’s (Apartment Realty Advisors) Pacific office. In addition, the shadow market is on the decline.