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Jeff Gray thought his project was a homerun. He wanted to build a workforce deal amid luxury apartments in the shadows of a Houston employment engine—The Texas Medical Center. And, he had a REIT, Houston-based Camden Property Trust, as a sponsor. But when the market turned in 2007, he put on the brakes. Then, seeing great demand potential for 2012 and beyond, Gray revisited doing the deal under the FHA 221(d)(4) program in 2009.
FULL ARTICLE The bridge loan market is starting to heat up, as providers see more opportunity in lending to transitional assets and distress acquisitions.
FULL ARTICLE Most years, apartment owners and brokers would be doing somersaults if they enjoyed year-over-year sales increases of 50 percent. This year, a report from New York-based research firm Real Capital Analytics saying that sales volume jumped $15.4 billion in the first quarter of 2010—a 50 percent increase over the first quarter of 2009—was met with muted optimism.
FULL ARTICLE The entire structure of the nation’s housing finance system is up for play as Congress begins its debate on the future of Fannie Mae and Freddie Mac. But the next generation of housing finance will be forged at a time when partisan divides are as deep and heated as at any time in recent history.
FULL ARTICLE In the past few months, Ed Lange, executive vice president and chief operating officer at San Francisco-based BRE Properties, has been noticing an interesting trend at some of his properties.
FULL ARTICLE An expected spate of initial public offerings from apartment real estate investment trusts has been sluggish, despite capital availability in the equity markets and investor interest in liquidity. The reason? A continued choke hold on the volume of multifamily dispositions already subjected to extreme bid pressure from existing traded and non-traded REITs and private companies with established acquisition funds.
FULL ARTICLE In a report released April 15 updating a 2008 survey on how multifamily technology executives allocate their budget dollars, the Washington, D.C.-based National Multi Housing Council finds spending on outsourcing has nearly doubled, comprising 23.63 percent of apartment IT budgets in 2009, compared to only 12.6 percent in 2008.
FULL ARTICLE Wages are falling and rents are rising to create an increasingly wide gap in how much people earn and the amount needed for an affordable, decent home, according to the National Low Income Housing Coalition.
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