Construction Maison

In January 2015, a massive fire in Edgewater, N.J., demonstrated that buildings with sprinkler systems are not always protected against fire. The blaze destroyed 240 residential apartments and displaced 500 people from the Edgewater Avalon apartment building . The fire began when a maintenance worker’s plumbing torch accidentally ignited wooden wall studs , and flames quickly spread throughout the structure. Fifteen minutes passed before workers called the fire department . In that time, the fire spread throughout combustible void spaces (between walls and floors) and soon engulfed the building. Emergency personnel from 35 different cities and towns ultimately responded to the incident. Thankfully, there were no fatalities. Immediately after the blaze, people asked why the fire was so devastating. The building had sprinklers, after all. Shouldn’t the sprinkler system have extinguished the fire? To make matters worse , this building had already burned down 15 years prior during i...

Boasting a price of $15.45, Preferred Apartment Communities Inc. (NASDAQ:APTS) traded 0.17% higher on the day. With the last stock price close up 18.71% from the two hundred day average , compared with the S&P 500 Index which has increased 0.05% over the date range. Preferred Apartment Communities Inc. has recorded a 50-day average of $16.58 and a two hundred day average of $14.93. Volume of trade was down over the average, with 314,725 shares of APTS changing hands under the typical 316,052 BidaskClub has downgraded Preferred Apartment Communities Inc. (NASDAQ:APTS) to Buy in a statement released on 7/8/2017. Performance Chart Preferred Apartment Communities Inc. (NASDAQ:APTS)" width="530px" style="border: 0pxpx;" /> With a total market value of $0, Preferred Apartment Communities Inc. has with a one year low of $12.02 and a one year high of $18.11 . A total of 8 equity analysts have released a research note on APTS. Five equity analysts rating...

Austin, Texas—Epoch Properties has unveiled plans for the second phase of Monterra, an apartment community in Austin, Texas. It will include 11 three- story garden apartment buildings and five two- story carriage apartment buildings , with a total of 256 units. The property will also include a 7,800-square-foot clubhouse with a game room and exercise room. It will also feature an outdoor pool and a Wi-Fi café. According to the developer, Monterra Phase II will incorporate National Green Building Standards . The standards are a rating system for U.S. residential construction, devised by the National Association of Home Builders, and can be used for rating new and remodeled single- and multifamily buildings as well as residential subdivisions. Every effort was made, Epoch says, to conserve the existing trees in the overall site plan. Construction of Monterra Phase II is slated to begin in 2014. Winter Park, Fla.-based Epoch has tapped Forum Architecture & Interior Design to des...

PHOENIX, AZ - Colliers International in Greater Phoenix recently completed the sale of the 468-unit, Class C Willow Springs Apartments in Phoenix for $13.25 million or $28,312 per unit ($42.66 per square foot).Resort on 27th LLC of Los Angeles purchased the property, located at 4715 N. 27th Avenue, from MLCFC 2007- 7 North 27th Avenue LLC of Miami Beach, Florida. Bill Hahn, Jeffrey Sherman, and Trevor Koskovich, executive vice presidents with Colliers International ’s HSK Multifamily Southwest Team , represented both buyer and seller. Built in 1986, the apartment community consists of 14 three- story buildings constructed on a rectangular-shaped site, situated on 13 acres. The property is north of Indian School Road , south of Glenrosa Avenue and west of the I-17. Within 310,596 square feet of living space, the unit mix is 252 one bedroom/one bath, 108 two bedroom/one bath and 108 two bedroom/two bath apartments . Unit amenities inclu...

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided an $11. 4 MM Fannie Mae DUS Choice refinancing for the Woodchase Apartments in St. Louis, Missouri. Woodchase Apartments is a garden style multifamily facility that was built in 1984 and comprises 17 two- and three- story residential buildings , and one single-story office/clubhouse.  The property consists of a total of 186 units, and the unit mix is made up of 92 one-bedroom and 48 two- bedroom apartments , and 18 one-bedroom and 28 two- bedroom townhome units .  The loan is a 10- year fixed rate facility with a 30- year amortization period . The portfolio was refinanced to secure a new low interest rate . Centerline is one of the nation’s leading Mortgage Banking institutions in the multif...

TAMPA, FL -   Electra America , one of the fastest- growing multifamily owner -operators in the U.S., has acquired Landmark at Grand Palms, a 438- unit multifamily community in Tampa, Florida. The property was acquired from Starwood Capital for an undisclosed price in a privately negotiated transaction , and will be rebranded as Northgreen at Carrollwood. It will undergo capital improvements totaling approximately $3.5 million.This acquisition brings Electra America ’s Tampa portfolio up to four properties. This is the company’s sixth multifamily property acquisition in Florida so far this year. Nationally, Electra’s portfolio includes more than 22, 500 apartment units totaling over $2.5 billion in value. Berkadia’s South Florida and Philadelphia teams arranged a $39. 8 million acquisition loan through Freddie Mac. A company affiliated with Electra America had owned the property prior to Starwood, which acquired it in 2014 as part of a large portfolio sale...

Natalie Marra benefited from the Tenant Opportunity to Purchase Act (TOPA), a provision in the District that provides strong protection for tenants to avoid a forced move. (Ricky Carioti/The Washington Post) Four years ago, when her apartment building at 1921 Kalorama Road NW in Washington was up for sale, Natalie Marra, a resident for more than 30 years, was determined to stay in the home she loves. “It took almost two years of tough negotiating, but there was a core group of seven of us in the tenant association that worked with a lawyer to make sure our rights were protected,” Marra says. “We negotiated the right to live in our apartments under rent control for the rest of our lives. Believe me, none of us ever plan to move now. Why would we? We have great renovated apartments and low rent.” Marra and her neighbors benefited from the Tenant Opportunity to Purchase Act (TOPA), a provision in the District that provides strong protection for tenants to avoid a forced move. Elder...

The sale of apartment complexes continues throughout the Charleston region. Most recently, Atlanta-based Radco Cos. paid $22.9 million for the 198-unit former Woodbridge Apartment Homes in West Ashley. The complex at 2040 Ashley River Road is now called Radius at West Ashley . The sale price included $14.1 million in mortgage debt, according to Charleston County property records . The purchase marks the company's sixth acquisition this year and its second multifamily asset in the Charleston region. It also owns Greenwood at Ashley River at 6520 Dorchester Road. The previous owner of Radius at West Ashley was New Jersey-based  Raia Properties , which paid $14.5 million for the complex in 2006. Radco Residential will manage Radius. Radco plans to spend $3 million, or about $15,000 per unit, to upgrade the community. It was built in separate phases in 1972 and 2003 in 11 buildings on 16 acres. Renovations will include cabinetry, appliances, flooring, lighting, countertops and pa...

The innovative project looks to transform this downtown district through the infusion of a diverse set of programs that will provide activated street frontages and a variety of housing typologies at all levels of affordability. The Exchange LOS ANGELES - Aug. 25, 2017 - PRLog -- KTGY Architecture + Planning unveiled today the preliminary design for a new mixed-use development that was selected as part of Salt Lake City 's plan to revitalize its downtown core developed by The Domain Companies , one of the nation's leading real estate investment and development firms specializing in sustainable mixed-use development, and the GIV Group, which combines a non-profit and entrepreneurial approach to community development. Called The Exchange, the design envisions a pedestrian- and transit-oriented mixed-use district focused on innovation and includes "startup" micro-unit apartments, business incubator space , creative office space , affordable and market-rate apartm...

LOS ANGELES, CA - JRK Property Holdings has acquired Clover Creek , a 504- unit apartment community in suburban Chicago in a transaction brokered by HFF.Built in 1986, Clover Creek is located in Lombard, IL, a premier suburban Chicago submarket in the heart of DuPage County, 30 minutes west of downtown Chicago.   Clover Creek also benefits from its proximity to the Illinois Technology and Research Corridor (ITRC), one of the principal economic centers in suburban Chicago and the home to the headquarters of seven Fortune 1,000 companies.   Clover Creek is located 10 miles west of the ITRC along I-88.  Clover Creek offers a variety of one-, two- and three- bedroom floor plans in seven, four-story and two, two-story buildings on a low-density 34-acre site.   Common area amenities include a swimming pool, playground, soccer field, volleyball court, bark park, and clubhouse with Internet café, fitness center and business center.  With approximately 60% of units still in origina...

Volvo’s surprise announcement that it will phase out the internal combustion engine by 2019 should be a wake-up call across industries that disruptive technology is already impacting short- term business planning . Anticipating how the economy and human behavior will be reshaped in the years ahead is an important exercise that should inform business leaders’ decisions and help position their businesses to more readily adapt to the future.        Commercial real estate is not disconnected from the challenges and opportunities posed by technology. Quite the opposite; it will be at the epicenter as outside forces impact how people live, commute, work and interact. As commercial real estate leaders , we should be mindful of how the developments we’re building now will be used in 10 or 15 years, when today’s emerging technology has become tomorrow’s ubiquitous convenience. Here are four technologies and trends that could shape commercial real estate in the not-too-distant future. Autonom...