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Volume 2 - Number 15 | August 10, 2004
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TOP STORY: Section 8 Advocates Win In Federal Budget Battle
By Sule Aygoren
Before breaking for August recess last week, the US House of Representatives’ Appropriations Committee announced its decisions regarding the fiscal 2005 VA/HUD appropriations bill. The results included a surprising increase in funding for federally subsidized affordable-housing programs.
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INSIDER: Golub & Co.'s Michael Newman
By Stacey Corso
Chicago-based GE Capital Golub LLC has entered into a joint venture with a European multifamily operator, the Luxembourg-based ORCO Property Group, to develop a 1,300-unit middle-market condominium project in Prague, Czech Republic. Why did GE Capital Golub stray from its primary role as an office building developer to do a multifamily project of such size—and why in the Czech Republic, of all places?
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Rental Demand Improves Across US
By Stacey Corso
Finally, good news has arrived for the multifamily rental market. On the heels of positive employment growth, the rental market recovery has begun at last, according to some industry observers.
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Short Takes: PWF Funding Does $224M Deal; GMACCM and Keybank Team Up
By Sule Aygoren and Stacey Corso
In its largest portfolio financing to date, PWF Funding Inc. has provided more than $224.6 million for 33 apartment complexes in three Northeastern States. The borrower, Kamson Corp., reportedly refinanced the properties to lock in today’s historically low interest rates.
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