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Private Money Steps Up
SMALL, PRIVATE EQUITY GROUPS are flooding the marketplace, and investors are targeting cash-on-cash returns over internal rate of return (IRR), say industry experts.
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Obama Outlines Spending Plans
President Barack Obama has outlined a fiscal 2010 budget that provides more funding for federal housing programs, including $1 billion for the national Affordable Housing Trust Fund.
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Meeting Multifamily Mortgage Needs
Though the current financial crisis originated in the single-family sector, as APARTMENT FINANCE TODAY readers well know, it has since spread to other sectors. Thus, there is a looming liquidity crisis that could seriously impair the apartment sector.
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Making Room for Green
DEERFIELD BEACH, FLA.—While other developers are tightening their corporate belts, Carlisle Development Group found a surplus in the construction budget for its Tallman Pines redevelopment big enough to try green building, thanks to conservative budgeting and boom-time tax credit prices.
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People
Richard L. McQuady has been named CEO of Kentucky Housing Corp.
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Credit Crisis Squeezes Deals
Affordable housing developer Volunteers of America (VOA) had to switch lenders twice before it could sell tax-exempt bonds backed by the loan to Sierra Manor, a Sec. 202 community affordable to lowincome seniors in Reno, Nev.
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HUD's New Multifamily Czar Carol Galante to Focus on Rental Housing Financial Support, Sustainability Initiatives
Carol Galante, a recognizable and progressive thought leader within affordable and multifamily housing circles, was named deputy assistant secretary of multifamily housing at the U.S. Department of Housing and Urban Policy (HUD) Tuesday by President Barack Obama.
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Multifamily Construction Financing Search Leads to FHA
What’s old is new again.
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Apartment Finance Today Conference Sets the Stage for 2009
Multifamily movers and shakers gathered in Phoenix, Ariz., last week to kick off the three-day Apartment Finance Today Conference.
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Capmark Finance Teeters On the Verge of Bankruptcy
Some of the multifamily industry’s largest lenders, including Washington Mutual, Wachovia, and Column Financial, have fallen from grace in the past year.