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Volume 3 - Number 5 | March 8, 2005
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TOP STORY: Archstone Buys 10,000 Units For $1.4B, Grows Presence In Core Markets
By Sule Aygoren Carranza
Denver-based multifamily REIT Archstone-Smith has acquired a portfolio totaling more than 10,000 units for $1.4 billion from Oakwood Worldwide, a global corporate housing developer. The 30 properties in the package are spread through 29 cities, and 78% of them are located in Archstone’s core markets.
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INSIDER: Singer & Bassuk’s Richard Bassuk
By Stacey Corso
A plethora of capital is circulating today for multifamily transactions on the East Coast, especially when it comes to condominium conversions and ground-up development. Right in the middle of it all is Richard Bassuk, president of the Singer & Bassuk Organization, a mortgage financing company that closes some of the largest multifamily transactions along the Eastern Seaboard.
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Marcus & Millichap Leads Contributions To NMHC Political Action Committee
By Stacey Corso
The National Multi Housing Council is arguably one of the largest multifamily-focused lobbyist organizations in the US, and its political contributions reflect that. And it turns out that a brokerage company—not a REIT or apartment owner—stands out on the NMHC’s PAC contribution list as the largest donors: Marcus & Millichap, which gave $62,851 last year.
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HUD’s Recognition of IBC 2003 Edition Eases Regulatory Compliance, Says NAHB
By Stacey Corso
The Department of Housing and Urban Development’s recent decision to recognize the International Building Code’s 2003 edition as a safe harbor for compliance with the accessibility requirements of the federal Fair Housing Act has been met with praise by fair-housing groups, advocates for the disabled and apartment lobbyist organizations.
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