Construction’s up and it’s not even “the big one”
So says Mark Obrinsky, chief economist for the National Multi Housing Council. He expected to see December housing starts to be higher than usual. Starts of multifamily housing jumped 42 percent, according to the...
Realtors bring in the big ad guns
The gigantic trade group is determined to convince everyone it's a good time to buy, a good time to sell, and a good time to hire a Realtor if you want to do either. The...
On the scout for distressed property
Beginning in California in 1996 and recently expanding into the Southeast, Bascom established a track record of buying and repositioning distressed multifamily assets. Bascom Managing Director and Co-Founder David Kim said the venture with Warburg...
AVB added to S&P 500
The Alexandria, Va.-based apartment REIT will replace Symbol Technologies, Inc. (SBL:NYSE), a manufacturer of bar code and inventory scanning technology that was acquired by Motorola, Inc. When the SBL/Motorola deal is sealed, AVB will...
Archstone-Smith COO retires
Freeman is being replaced by Charles E. Mueller, Jr., who also joined Archstone-Smith 13 years ago and served for the past eight years as chief financial officer. Other executive changes coinciding with Freeman's retirement...
Pod vision
Within the Web 2.0 tool kit are dynamic website features. Web 2 differs from its predecessor in that, although still ill-defined by technologists, it changes based on the users' content requests and is largely...
Colonial Properties sells off 3,959 units in Southwest
"We recognized approximately a 77 percent return on investment during our ownership with DRA Advisors," said Paul Earle, executive VP of the company's multifamily division. "Our joint venture investment in these properties in late...
CBRE multihousing sales top $772M in Florida
CBRE's sales accounted for 42 percent of the $1.85 billion total apartment sales in metro Orlando. In terms of total dollars, 2006 was the second most active year for Central Florida apartment sales, trailing...
Mid-America wins first NMHC award
The new NMHC award, which honors apartment firms that have excelled in community service and philanthropic activities, includes a $10,000 donation to the winner's charity of choice. Mid-America was selected for its "Open Arms"...
MH Industry must adjust to growing renter diversity
PHOENIX That's the advice given by Leanne Lachman, president of Lachman Associates, during the "Demographics of Rental Demand" presentation at the National Multi Housing Council's Annual meeting in Phoenix. With the U.S. population expected to...
Grubb & Ellis predicts soft landing in annual forecast
Construction remains in check and the economy grows enough to fuel continued business and global trade expansion. Stable interest and cap rates will keep the real estate investment market healthy. "We expect the economy to...
Let’s make a deal
According to Real Capital Analytics, repositioning plays accounted for more than eight percent of all transactions nationally last year. Half-vacant assets, deferred maintenance and a challenging tenant base are the stuff value-added plays are made...
A new altitude
"I think that characterization's a little bit dated," he told the analyst, pointing out that monthly rents for the company's apartments averaged nearly $900 by mid-year, up from about $700 just four years ago,...
Head East, investor! Head East!
Over the past few years,investors from California have ramped up their out-of-state investments, favoring Phoenix, Dallas, Las Vegas, and now Atlanta. "Around 70 percent of the deals we brokered this year were to out-of-...
Shaq’s first round pick
The O'Neal Group, a real estate and development company, plans to acquire, develop and promote select projects across the nation. The firm's first project is a partnership with Miami-based MDM Development Group called Metropolitan Miami....
