Virtual Open Houses

Angling to Capitalize on Future Apartment Market Changes, Industry Vets Form New Firm

Realtor — Wed, 01 Jul 2009 08:45:41 +0000

The apartment market held up relatively well during the early stages of the economy's descent--but even it is now in decline. And while many investors are shying away, industry veterans Jim Butz and Greg Lamb are jumping in with both feet. The two former principals of leading multi-family developer JPI East have teamed with office and mixed-use developer Akridge to launch Jefferson Apartment Group with the intention of acquiring--and eventually--developing apartment properties in the Mid-Atlantic and Northeast regions.

Despite Office Market Slump, 1M-SF Connecticut Campus Trades in $72M Deal

Realtor — Wed, 01 Jul 2009 04:33:28 +0000

It's an office trade of such a size that has not been seen in Connecticut, no less challenged by job losses and economic malaise than most other markets, in quite a while. Matrix Connecticut L.L.C. has just taken over ownership of the 1 million-square-foot Danbury Corporate Center in Danbury, Conn., from GERA Danbury L.L.C. in a $72.4 million merger transaction. The deal is a coup for Connecticut, as well as its neighbors, as it marks the largest multi-tenant office transaction in the suburban New York Tri-State area so far this year.

California M-F Scores $18M in Financing

Realtor — Tue, 30 Jun 2009 17:24:38 +0000

Ory Schwartz, senior director of NorthMarq Capital's Los Angeles office, has arranged an $18 million first mortgage for Meadowridge Apartments, a 176-unit multi-family complex located in Santa Clarita, Calif.

KABR Fund Takes 235,000-SF New Jersey Office

Realtor — Sat, 27 Jun 2009 18:50:08 +0000

Newly-formed value-added real estate fund KABR Real Estate Investment Partners L.L.C. has purchased a 235,000-square-foot office building at 85 Challenger Road in Ridgefield Park, N.J., from AIG.

Home security for less

Realtor — Fri, 26 Jun 2009 10:29:09 +0000

The combination of a deep recession and widespread law-enforcement funding cuts will most likely spell a banner summer for burglars. If your house makes a good target - it's upscale, off the beaten path, and in or near a city - an alarm system is your best defense, according to Temple University economics professor Simon Hakim, who studies security and policing. Installing one will reduce your risk of a break-in by two-thirds. To determine what you really need, follow the guidelines below.

Home mortgage rates and real estate news - CNNMoney.com

Omega Takes Majority Stake in Developer of 440-Acre Fresno Project

Realtor — Thu, 25 Jun 2009 19:39:34 +0000

Omega Commercial Finance Corp. has signed a definitive agreement to acquire a majority interest in EcoCalifornia L.L.C., a firm currently in the process of developing a golf resort and housing project in the Fresno, Calif., area.

“Not Paying the Mortgage, Yet Stuck With the Keys”

Realtor — Thu, 25 Jun 2009 14:56:50 +0000

Check out this great Washington Post story from yesterday about the backlog in foreclosures. The human interest is a woman from Glen Allen, Va., who moved out of her house last July and has been begging the bank to foreclose so it won't be her responsibility anymore. As long as her name is on the title, she's been going back and trying to keep it neat. She even tried to clean up from a fire that broke out in January. Here's the final quote in the story:

We could have walked away like everyone else and said, 'We don't care.' But we loved our neighbors and our neighborhood. We hold ourselves responsible.

I don't know why she fell behind on her mortgage in the first place, but I admire her sense of responsibility at this stage.

Hat tip to Matt Stichnoth at Seeking Alpha.

84,000SF Former Call Center in PA to Become Office Space

Realtor — Wed, 24 Jun 2009 23:31:07 +0000

A former Verizon call center in Upper Darby, Pa., has been acquired by a buyer with plans to transform the 84,000-square-foot property into office space.

Hartz Mountain Leases Out 116,000 SF in New Jersey

Realtor — Wed, 24 Jun 2009 19:29:22 +0000

Hartz Mountain Industries has agreed to a lease deal with Breeze-Eastern Corp., a publicly-traded designer of lifting devices for military and civilian aircraft.

Obama refis: Slow out of the gate

Realtor — Wed, 24 Jun 2009 14:38:18 +0000

The Mortgage Bankers Association has slashed its estimate of the number of mortgages its members will issue in 2009. One reason: Few refinancings are being done under President Obama's ballyhooed Home Affordable Refinance Program.

Home mortgage rates and real estate news - CNNMoney.com