Construction Maison

Jennifer Johnson was freezing cold and so was her 5-month-old baby. It was January, and the heat in her apartment wouldn 't go above 60. When the wind blew outside, her drapes fluttered inside . She called the maintenance department at Lakecrest Park Apartments in Roosevelt Park . The man who answered was rude, then crude, then hung up on her. Desperate and shivering, Johnson called the police. The result? Inspectors were called who issued citations, city leaders changed the ordinance to allow stricter enforcement of building codes and the apartment complex's East Coast owners became "cooperative" with city officials . And what about the apartment's management and maintenance department she dealt with? All fired. It's unusual for officials of any city to move so quickly to step into a tenant-landlord dispute. But with only a few large apartment complexes in the one-square-mile city, inspectors and leaders decided change was needed fast. A lease nightmar...

CLOSE POTUS on North Korea; 3 arrested on gun and drug charges; Hope Hicks named interim Communications Director 8/16/17 Buy Photo Autumn Park apartment complex , a 358-unit multi-family-property in the Glasgow area, is being sold. (Photo: Suchat Pederson, The News Journal) Buy Photo New York- based real estate lender Greystone provided a $26. 7 million loan to finance the $35.5 million purchase of the  358-unit Autumn Park apartments in Glasgow. The financing was a Fannie Mae DUS loan that was used in combination with $5.35 million in preferred equity from New York Mortgage Trust Inc.  Concordia Properties of Lakewood, New Jersey, purchased the property at 41 Winterhaven Drive from Metropolitan Management Group ,  Wyomissing, Pennsylvania-based owner of multifamily properties.  Metropolitan Management Group , a Wyomissing, Pennsylvania-based owner and operator of multifamily properties, sold the Autumn Park apartment complex at 41 Winterhaven Drive.  Greystone said it overcame a...

Local investors beware: Central Pennsylvania is on the map for outside groups looking for higher returns. Last month, The Solomon Organization , a New Jersey-based operator of multifamily properties, closed on a $25.7 million purchase of the newly built Ivy Ridge Apartments in Swatara Township . That price — $117,913 per unit — is the highest in the Harrisburg market this year. It also marked the company's first foray into the Harrisburg area after landing in Lancaster County six years ago. It owns six communities in Lancaster County and more than 1,200 units. "Two years ago, you said 'Harrisburg' and people would just hang up the phone," said Zachary Pierce, director of the National Multi Housing Group in Philadelphia for Marcus & Millichap Real Estate Investment Services . Outside investors were interested only in primary markets such as New York City and Washington, D.C., and maybe Philadelphia, he said. But as prices have shot up in those prime areas, th...

Rhodium Capital Advisors Acquires 14 - Building Connecticut Portfolio With Firm Capital Partners for $30.5 Million. Press Release - updated: Aug 17, 2017 New York, NY, August 16, 2017 (Newswire.com) - ​ Rhodium Capital Advisors today announced the acquisition of 462 apartment units in the Cambridge district of Bridgeport, Connecticut for $30.5 million. The portfolio consists of one 179-unit complex and thirteen buildings (clustered in four areas around the city) with an average of 22 units each. The properties are located at: 2209-2225 Main St., 1465 East Main St ., 340 Putnam St., 299 Berkshire Ave., 644-654 Park St., 30 Granfield Ave., 80 Granfield Ave., 85 Price St., 1575 Iranistan Ave., 898-930 Norman St., 1421 Fairfield Ave., 850 Hancock Ave., 1054 Hancock Ave. and 1590 Barnum Ave. Rhodium’s business plan for the portfolio involves spending approximately $1 million on building- wide capital improvements and $1.6 million to upgrade and modernize the apartment units. This acq...

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By Diana Hubbell Travellers have long looked towards Asia – with its shimmering azure waters and near-limitless selection of palm-fringed white-sand beaches – in their search for paradise. Intrepid hippies put the area on the map as a tourist destination in the 1960s. The intervening years, meanwhile, have seen rustic bamboo beach shacks edged out by a growing phalanx of upscale hotels and resorts. Indeed, these days it is just as likely to be high- powered investors making for the region’s resort destinations as singlet-wearing backpackers and other holidaymakers.   Countries such as Thailand, Vietnam, Indonesia, Cambodia and the Philippines, can ably cater to the most demanding of buyers, with sumptuous properties ranging from secluded island hideaways to palatial residences with easy access to first-class restaurants and highly developed transport infrastructure . MORE: The Mediterranean is still the dream second home for wealthy Asianssztbauwa Investors who are as keen on po...

Property is 13th Fund Acquisition CHICAGO and CHARLOTTE, N.C., Feb. 20 /PRNewswire/ -- The Laramar Group, a fully- integrated real estate investment and management company, today announced the acquisition of the Waterford Lakes Apartments , a 694- unit lakeside property in Charlotte, North Carolina, located at 8000 Waterford Lakes Drive . Waterford Lakes is the thirteenth property acquisition for Laramar Group's Multifamily Value Fund, which launched in December 2006. " Waterford Lakes offers residents an ideal living situation : picturesque, resort- style residences located within walking distance of rapid transit, near local employment centers , shopping and major metropolitan areas," said Jeff Elowe, president of Laramar Group. "With its lush surroundings and terrific locale, Waterford Lakes is a great addition to Laramar's portfolio, and an excellent way to round out the first year of the Multi-Famil...

The proposed Eckington Park development . Image by Foulger-Pratt. A planned new development in Eckington faces opposition on an unlikely front: its request to change the current industrial zoning to build a mixed-use residential building. Amending the zoning would keep with nearby developments, but begs the question of where Washington DC  should preserve its limited industrial land , and how much it should save. The planned Eckington Park development is located at the northwestern corner of the empty lot at the corner of R Street and Harry Thomas Way NE next to the Metropolitan Branch Trail . This is the same lot where, on the southern half of the site, the NoMa Parks Foundation plans to build its new large park. Map showing Foulger-Pratt's proposed Eckington Park development and the new large NoMa park . Image by Foulger-Pratt. Developer Foulger-Pratt is seeking an amendment from the DC Zoning Commission to change the zoning of the site from PDR-2 and PDR-4, which allows li...