January 10, 2006 | Vol. 4 No. 1

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Volume 4 - Number 1 | January 10, 2006

TOP STORY: Due Diligence Key to Avoiding Condo Conversion Risks
By Sule Aygoren Carranza
As condominium conversions have proliferated in markets across the country, the real estate industry has started to pay more attention to this segment of the market.

Deal Watch: Developer Secures $452M for Lower Manhattan Project
By Sule Aygoren Carranza
A $452-million financing package is enabling developer Edward J. Minskoff Equities Inc. to move ahead with its planned mixed-use development in Lower Manhattan.

INSIDER: G. Joseph Cosenza of the Inland Real Estate Group
By Sule Aygoren Carranza
Last month, the Inland Real Estate Group of Cos. Inc. paid $70.5 million for the Stonegate Apartments. Located on 66 acres at 440 Gregory Ave. in Glendale Heights, IL, the 33-building, 1,156-unit community is believed to be the largest apartment complex in suburban Chicago.

Apartments Should See Further Boost in 2006, Economists Say
By Sule Aygoren Carranza
The multifamily sector should see even further improvement this year as rising interest rates and decreasing demand for single-family homes cool down the housing sector. Based on recent reports and conference calls, that’s the consensus of economists from industry organizations and various real estate companies.

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