Table of Contents August 2010

FEATURES

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  Jammed Up

  Why special servicers are ending up with CMBS assets, and what it could do to the multifamily industry.

   

Cover Story

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  True to Your School

  Campus Advantage Looks to Grow as a Student Housing Provider

   

FROM THE EDITOR

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  A Game of Improv

  When it comes to distress funds, operations, or even travel, you have to improvise to stay alive.

   

NEWS + NUMBERS

Stat of the Month

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  Eyeballs and Purse Strings

  New study From Nielson sheds light on renter habits in social networking environments online.

   

Direct Reports

• Occupancy Uptick

  Some of the biggest names in the apartment industry reported significant improvement in rents in the first half of 2010. But the question is: How have those numbers improved without significant job growth?

   
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  Houston's Green Gem

  The Voyager at Space Center—a 313-unit luxury apartment community within walking distance of the Johnson Space Center in Houston—recently became the largest project certified by the National Association of Home Builders (NAHB) Research Center under the ANSI-certified National Green Building...

   

• Multifamily Dispositions Move to By-the-Pound Pricing

  While cap-rate centric institutional buyers mindful of market fundamentals are balking at cap rate compression, opportunistic private investors and opportunity funds with aggressive yield expectations and the underwriting to match are standing 20 and 30 bidders deep to pay what the market demands...

   

• Back on its Feet

  On Tuesday, Delaware's Bankruptcy Court cleared the way for Toronto-based Brookfield Asset Management to provide an equity injection to San Diego-based Fairfield Residential by approving the company’s plan of reorganization.

   

• Credit Check

  Global information services company Experion recently acquired RentBureau, one of the nation's largest nuetral rental credit bureaus. The acquistion has many positive long-term prospects, including helping renters who are unscorable through traditional credit bureaus get their foot in the door to...

   
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  New Hands

  Fortress Investment Group has acquired CWCapital in the third major acquisition of a special servicer this year.

   

• Distress Zones

  In some markets, such as New York and Washington, D.C., transactions have picked up noticeably this year and cap rates are falling. But in other markets, there are still a lot of distressed assets trading. In fact, some markets are seeing more distressed assets trade than conventional ones.

   
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  Waiting Game

  As the price of materials such as lumber and concrete continue to fall, many developers are employing an "as-needed" approach to purchasing at the end of the second quarter.

   

Regional

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  Comeback Kid

  Stability returns to Cleveland’s Class A apartment market.

   

PEOPLE + PLACES

One to Watch

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  Creative Adaptation

  Bainbridge Companies Set to Exapnd Multifamily Presence

   

Apartment Life

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  Super Leasing

  Apartment leasing specialists are reacting to an unexpectedly strong leaseup season.

   

SALES + SOLUTIONS

New Developments

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  Powered Up

  A 400-kilowatt fuel cell helps a New Haven, Conn., project become the largest residential building in the world with such features.

   

Done Deal

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  On Discount

  Borrowers Finding Servicers More Amenable to Payoffs

   

PRODUCT STUDIO

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  Feast for the Senses

  The right A/V equipment enhances the rental experience.

   

LANDMARKS

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  Landmarks: The SEASONS at the Hoover, Whittier, Calif.

  The historic renovation of a 70-year-old hotel into independent senior living helped revitalize Whittier, Calif.'s Uptown area.