October 9, 2007 | Vol. 5 No. 20

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Volume 5 - Number 20 | October 9, 2007

TOP STORY: Prospects Look Good for DC-Area Developers
By Sule Aygoren Carranza
If development activity is any indication, developers active in the nation’s capital are quite bullish on the region’s multifamily market. Two local firms alone are in the process of adding several thousand apartment units to the market.

Deal Watch: NYC Architects Design Landmark Austrian Project
By Sule Aygoren Carranza
Ground broke late last month on Sternbrauerei, or Star Brewery, an $80-million luxury residential and mixed-use complex in Salzburg, Austria. Built on the site of the former Stern Brewery, the project is scheduled to debut in late 2009.

IREM Benchmarking Study Shows Rising Expenses, NOI and Rents
By Sule Aygoren Carranza
A recently released study from the Institute of Real Estate Management showed that total expenses increased modestly last year for all major types of conventional rental apartments. Offsetting that was a slight increase in net operating income for conventional rental units.

Insight: Congressional Proposal to Change Tax Treatment of ‘Carried Interest’ Will Hurt Multifamily Industry
By Leonard Wood
Multifamily housing developers, builders and property managers should be extremely concerned about a Congressional proposal that would change the tax treatment of private equity.

Investors Commit $700M to Third Carmel Fund
By Brian K. Miller

Short Takes: Sentinel Gains 7,000 Units in America First Buy

Executive Moves: Trillium Taps LaRocca as New President

Recent Transactions: Freddie Mac Makes Big Student Housing Play