The Board of Trustees for American Homes 4 Rent has appointed Kenneth M. Woolley as independent chairman of the board. The appointment was effective May 7. Tamara Hughes Gustavson, former chairman of the board, will continue to serve as a board trustee. Woolley joined the company’s board at its inception in 2012. He is the founder andformer CEO of Extra Space Storage, Inc., a self-storage real estate investment trust, where
Read MorePREIT has added Shop Local pages on all of its mall websites, an effort designed to support the ecommerce platforms of the small businesses in its portfolio. The offerings are accessible not only to local audiences but also to the entire PREIT portfolio of consumers. “Our local businesses are among the enterprises hardest hit by this pandemic. Without robust digital marketing budgets, they are at a disadvantage to their national
Read MorePermits.com, a platform for property owners and contractors to apply for construction-related permits nationwide, has launched GovAccess. Contractors in 17,000 U.S. cities and towns can use the free platform to expedite permit requests and inspections online, allowing contractors to access critical information and approvals they need for building in the face of COVID-19 and beyond. Due to the pandemic, building departments have closed or have restrictions on how they support
Read MoreMRI Software has introduced new and updated features for its residential, commercial and financials solutions. The changes are designed to better equip MRI’s clients to navigate the challenges of the COVID-19 crisis. The enhancements will allow owners and operators of residential and commercial properties to adapt to changing behaviors and market conditions. “COVID-19, both the pandemic and the necessary response, slammed the brakes on the global economy. This rapid change
Read MoreEastern Union, a commercial real estate finance firm, has arranged $15.5 million in financing toward construction of a ground-up, 1,115-unit self-storage facility in Perth Amboy, New Jersey. The loan, which covers costs associated with both land acquisition and construction of a 130,000-square-foot building, was arranged by managing director David Merkin and underwriting director Barry Dollman. The deal closed on March 30 with lender Orix USA Corporation. The non-recourse loan was
Read MoreA&G Real Estate Partners has launched a structured investment sales division. A four-person team, led by industry veteran Jeff Hubbard, brings to the new division more than 80 years of experience in structured turnkey dispositions of portfolios and individual properties across all asset classes. The team expands A&G’s in-house capabilities to include sealed bid and live auctions, portfolio sales, note sales and sale-leaseback transactions. It also broadens the range of
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