Envy Apartment

PHOENIX, AZ - Colliers International in Greater Phoenix completed the sale of the 374- unit Crosswinds Apartment Homes at 868 S. Arizona Ave., in Chandler, Ariz., for $22 million or approximately $58,824 per unit.Cindy Cooke, senior executive vice president ; and Brad Cooke, senior vice president , with Colliers’ Phoenix office, represented the sellers, P.B. Bell of Scottsdale, Ariz.; and Stonecutter Capital Management LLC of New York, N.Y., who originally acquired the asset in 2014.The buyer, who was self-represented, was Emma Capital Investments Inc., of Toronto, Canada, who specializes in the financing, acquisition and operation of multifamily residential complexes , particularly in the Sun Belt states in the U.S. Emma Capital’s portfolio consists of more than $175 million of property and approximately 3,000 units in the metro Phoenix, Atlanta and Charlotte markets. “Crosswinds is in the middle of a high-growth path between downtown Chandler and Chandler Airpark, “said Cindy C...

VIRGINIA BEACH A Development Authority member who owns stock in TowneBank and serves on its regional advisory board said he should not have voted on a project that is seeking a city incentive to build a parking garage . Michael Levinson voted July 18 to approve CityView Two, a $60. 5 million development that includes apartments, offices, a hotel and parking garage off Constitution Drive and Bonney Road near Town Center. TowneBank would finance the project. In a 7-0 vote, the Development Authority supported returning $10.2 million in real estate taxes to its developer, Ripley Heatwole Co. Inc., for a privately operated parking garage that would provide public spaces . Councilman John Moss raised concerns about Levinson’s vote and his connections to TowneBank. When asked about his potential conflict, Levinson said in a statement that he didn’t realize he had a conflict of interest at the time of the vote. “I regret that my vote, on a matter that passed without o...

WASHINGTON, Nov. 09 /CSRwire/ - Students who live in affordable, subsidized housing will have the opportunity to pursue their dreams of higher education through a scholarship fund that is receiving a donation of $140,000 from Apartment Investment and Management Company (Aimco).   Aimco Senior Vice President Patti Shwayder presented the contribution to Denise Muha, Executive Director of the National Leased Housing Association , for the NLHA Education Fund , which provides tuition assistance through the Aimco Cares Opportunity Scholarship and several other award categories.  The check presentation took place last week during the NLHA Fall Seminar at the Washington, D.C. Marriott.     “We are so proud to be helping the amazing young men and women through the Education Fund and the Aimco Cares Opportunity Scholarship .  These talented students come from diverse backgrounds and circumstances, but all share the same goal of earning a college degree,” said Shwayder.  “Our scholars are...

A new article about the department of Housing and Urban Development called “Is Anybody Home At HUD?” says: “HUD has long been something of an overlooked stepchild within the federal government. Founded in 1965 in a burst of Great Society resolve to confront the “urban crisis,” it has seen its manpower slide by more than half since the Reagan Revolution.” The piece, co-published by New York Magazine and ProPublica, profiles HUD Secretary Ben Carson and outlines how pending cuts to the agency will affect programs that serve millions of Americans on the brink of poverty. Journalist Alec MacGillis writes : “For a White House that swept to power on a wave of racially tinged rural resentment and anti-welfare sentiment, high on the demolition list might be a department with “urban” in its name. The administration’s preliminary budget outline had already signaled deep cuts for HUD. And Donald Trump had chosen to lead the department someone with zero experience in government or social p...

One day in August, 2016, the financier Carl Icahn made an urgent phone call to the Environmental Protection Agency . Icahn is one of the richest men on Wall Street, and he has thrived, in no small measure, because of a capacity to intimidate. A Texas- based oil refiner in which he had a major stake was losing money because of an obscure environmental rule that Icahn regarded as unduly onerous. Icahn is a voluble critic of any government regulation that constrains his companies. So he wanted to speak with the person in charge of enforcing the policy: a senior official at the E.P.A. named Janet McCabe . Icahn works from a suite of offices, atop the General Motors Building , in midtown, that are decorated in the oak-and-leather fashion of a tycoon’s lair in a nineteen-eighties film. During that decade, Icahn made his reputation as one of the original corporate raiders , pioneering the art of the hostile takeover and establishing himself as a human juggernaut—a pugnacious deal machine ...