April 2007 Table of Contents

Cranes Over Miami

Miami—Driving through this town, with flocks of cranes looming over half-finished high-rises, a casual visitor might think the real estate industry is still booming. Read more

Developers Like What They See

Herman & Kittle Properties, Inc., has been using Fannie Mae programs more in the last 18 to 24 months, said Todd Sears, vice president of finance for the Indianapolis-based builder and developer. Read more

Reining Them In

In December 2006, Fannie Mae restated its financials for 2001 through June 30, 2004, correcting $6.3 billion in earnings overstatements. Freddie Mac’s own accounting problems were revealed in 2003; the company had understated earnings by $5 billion to smooth out volatility in profits. Read more

Princeton Finds Opportunity in Portland

Portland, Maine—Princeton Properties Management, Inc., has hardly raised the rent at its apartment properties here since 2001. Annual rent growth has ranged between 0 percent and 2 percent. Read more

Signs of Life

Architectural Billings rebounded slightly in March, offering a sign of optimism to the real estate industry, according to the American Institute of Architects. Read more

New York City’s New Frontiers

New York City—On the Far West Side of Manhattan, a vast stretch of old warehouses and defunct railyards is about to turn into an extension of Midtown. Read more

Boston’s Suburban Building Boom

Revere, Mass.—Five miles outside of Boston, on the border between the suburbs of Revere and Malden, Roseland Property Co. Read more

Gaining Control Over the Defeasance Process

Strong real estate appreciation, a low interest-rate environment, and a growing number of eligible loans are driving the growing use of the defeasance process among multifamily borrowers. Read more

Condominium Tidal Wave Hits Providence

Providence, R.I.—Standing in Waterplace Park, next to the slender canal of the Woonasquatucket River, a visitor to Providence could probably look up and see most of the more than 1,000 apartments and condominiums now planned or under construction here. Read more

Conference Attendees Learn from Industry Experts Conference Attendees Learn from Industry Experts

Miami—More than 180 developers and owners heard from top multifamily industry leaders at the 2007 Apartment Finance Today Conference here in February. Read more

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