Business Specialties
Yardi Acquires Public Housing Management Software Developer VisualHOMES
This latest acquisition combines the public housing technology expertise of VisualHOMES with Yardi’s browser-based Yardi Voyager PHA solution for subsidized housing.
Saint Index: Americans’ Desire for Certain Neighborhood Developments Grows
Build in my backyard–please! Well, it may not be quite so dramatic, but more and more residents across the country are turning away from NIMBYism (Not in My Back Yard), according to the 2010 Saint Index survey.
Conde Nast May Anchor Ground Zero Skyscraper
When completed three years from now, the skyscraper will be New York’s tallest at 1,776 feet. Should the Conde Nast deal come to pass, the company will likely move from its 800,000 square feet at 4 Times Square in 2014.
U of Maryland Student Housing Project Progresses as Clark Builders Comes Aboard
Development of student housing projects across the country continues at a strong pace, and in College Park, Md., the University of Maryland has selected Arlington, Va.-based Clark Builders Group to handle construction of The Varsity, a mixed-use residential project adjacent to the school’s main entrance.
HFF Secures $160M in Acquisition Financing for DC’s Washington Harbour
HFF senior managing director Bill Asbill and Bob Donhauser as well as managing director Cary Abod secured the five-year, fixed-rate loan with MetLife Real Estate Investments. They worked exclusively on behalf of Rockpoint Group and MRP Realty.
FIRPTA Reform Clears House
The United States House of Representatatives has voted by a landslide to pass legislation modifying and updating the Foreign Investment in Real Property Tax of 1980. The bill cleared the House by a vote of 402 to 11.
LNR Completes Recapitalization as Vornado Takes 26.2 Percent Stake for $116M in Cash
With the participation of Vornado and others, Miami Beach-headquartered LNR, a diversified real estate company and special servicer of commercial mortgage loans and CMBS, has achieved a comprehensive recapitalization of its balance sheet.
Fitch Says CMBS Cumulative Defaults Up to 9.5 Percent
According to Fitch, the 133-basis-point climb from the first quarter is consistent with the firm’s expectation of an 11 percent cumulative default rate by the end of the year.
ACQ Makes $24M Equity Purchase of Atlanta’s Vinings Main
Rosemont, Ill.-based ACG Equities has made a 100 percent equity purchase of Atlanta’s Vinings Main mixed-use commercial and residential condominium development, which fell into foreclosure last December.
Responding to Demand, Denver-Area Children’s Hospital Kicks Off $230M Expansion
The expansion will address a demand that has been on the rise since 2007, when the hospital opened its new location at the 227-acre Anschutz Medical Campus, a recently developed education, research and patient care complex.