Advertisement
 

Problems viewing this e-mail? Please cut and paste this address into your Web browser: http://www.housingfinance.com/newsletters/aftu121608.html

APARTMENT FINANCE TODAY
Christine Serlin
Christine Serlin, Editor
cserlin@hanleywood.com

Obama’s HUD Pick Spot On

The housing industry is applauding President-elect Barack Obama’s pick of Shaun Donovan to head the Department of Housing and Urban Development (HUD). Donovan has shown his commitment to quality affordable housing for low- and moderate-income households while serving as director of the New York City Department of Housing Preservation and Development, where he has been responsible for leading the effort to build and preserve 165,000 affordable housing units for 500,000 New Yorkers, and as deputy assistant secretary for multifamily housing at HUD during the Clinton administration.

“We need to approach the old challenge of affordable housing with new energy, new ideas, and a new, efficient style of leadership. We need to understand that the old ways of looking at our cities just won’t do. That means promoting cities as the backbone of regional growth by not only solving the problems in our cities, but seizing the opportunities in our growing suburbs, exurbs, and metropolitan areas,” Obama said when naming Donovan as the next HUD secretary on Saturday, Dec. 13.
If confirmed by the Senate, Donovan certainly has the track record and leadership needed to reinvigorate the troubled agency and put quality affordable housing back on the national agenda.



Advertisement

Yardi

Outperform the competition with Yardi Voyager™ Residential, the industry’s leading fully integrated multifamily asset and property management software suite. Attend a Webinar and find out more! Click here.




The transaction market continues its sluggish pace as 2008 winds down, but some buying opportunities are emerging.
FULL ARTICLE

Grandbridge Real Estate Capital acquired Houston-based mortgage banking firm Live Oak Capital in early December.
FULL ARTICLE

Insurance costs fell in 2008 for multifamily firms, although prices may not stay low for long.
FULL ARTICLE

Apartment firms are increasingly using technology to recruit and retain residents and employees, improve their ability to serve existing residents, and streamline their operations and costs, according to a recent survey by the National Multi Housing Council (NMHC).
FULL ARTICLE

The nomination of industry veteran Shaun Donovan to be the next housing secretary is drawing strong support from housing leaders across the nation.
FULL ARTICLE

Advertisement

AFT Conference

Register for the 2009 Apartment Finance Today Conference
March 30-April 1, 2009, The Arizona Biltmore Resort & Spa, Phoenix, Arizona

Learn how to navigate the turbulent economy at the Apartment Finance Today Conference. Designed exclusively to meet the information needs of developers and owners of multifamily housing, attendees learn innovative financing strategies, hear what the future holds with our annual Forecast for Rental Demand, and make connections for putting deals together,all while enjoying the beautiful Arizona Biltmore Hotel. For more information and to register, visit www.aptfinanceconf.com.



This past year was not a kind one for multifamily transactions. In the winter and spring, Fannie Mae and Freddie Mac were a beacon of hope, processing deals hand over fist, but they grew increasingly cautious as the year progressed. The meltdown of the capital markets as summer ended led to massive bank consolidations and the government’s takeover of the government-sponsored enterprises. Despite all the complications, several great deals still closed in 2008, each with their own story to tell. When UDR put an 86-community portfolio on the market, it pre-arranged debt financing before it found a buyer. In the end, the $1.7 billion acquisition went to Steven D. Bell & Co. and DRA Advisors.
FULL ARTICLE


APARTMENT FINANCE TODAY

Events/Announcements

Check our online calendar for upcoming events.

HOUSING FINANCE BLOG

Read about deals, subsidies, gossip, taxes, and sneaky fine print in the world of rental real estate, from the editors and writers of APARTMENT FINANCE TODAY here.

Contact

To reach APARTMENT FINANCE TODAY Executive Editor Christine Serlin, please e-mail cserlin@hanleywood.com

To reach APARTMENT FINANCE TODAY online Web Producer Spencer Markey,
e-mail smarkey@hanleywood.com

Subscribe

Subscribe to APARTMENT FINANCE TODAY Magazine.

Unsubscribe to APARTMENT FINANCE TODAY Update.

Advertise

Advertise in APARTMENT FINANCE TODAY Update.

Advertise in APARTMENT FINANCE TODAY Magazine.

Hanley Wood, LLC
Mailing Address: One Thomas Circle NW, Suite 600, Washington, DC 20005
APARTMENT FINANCE TODAY is part of the Hanley Wood network of Web sites:
Multifamily Executive Magazine Public Works Magazine Hanleywood Market Intelligence Building Product News & Construction Resources Architect Magazine
Hanley Wood, LLC. Unauthorized reproduction prohibited.
Advertisement