Multifamily

ATLANTA-The locally based apartment REIT posted funds from operations of $33.7 million, excluding a $17.5 million severance and impairment charge. That compares to FFO of $41.7 million for fourth quarter 2000, excluding a $9.4 million charge.

MIAMI-The New York developer and the Sunny Isles Beach, FL father-son team plan to break ground Feb. 9 on Trump Palace, a 47-story, 267-unit luxury condominium tower--the second of a three-phased, 972-unit venture along Miami Beach called Trump Grande Ocean Resort and Residences.

RANDALLSTOWN, MD-The Carriage Hill Apartments will continue to undergo its rejuvenation process with the assistance of a $36 million refinancing loan from Arbor Commercial Mortgage. Owner Sawyer Realty Holdings take on the 10-year loan at a rate of 7.11%

SEATTLE-After a couple of years of negotiating, the YWCA and the private developer have exchanged parcels, each valued at $1.4 million. The land in question is located in Belltown, on the east side of Third Avenue, between Virginia and Lenora streets.

LONDON-In its review of 2001, auctioneer Strettons says the market has improved since the terrorist attacks on the USA. It says that this gives the lie to press reports of falling prices.

LINCOLN, MA-An affordable-housing development on land near the Minute Man National Historic Park, which is owned by the state highway department, would increase the town's affordable-housing stock and make it less vulnerable to developers with comprehensive permits.

ANN ARBOR, MI-McKinley Associates founder Ronald N. Weiser, developer of 20,000 multifamily units and 7 million sf of commercial space, is selected by President Bush to promote good will in Slovakia.

CORPUS CHRISTI, TX-The steady job base provided by the military and oil and gas industries hasn't been enough to solve this south Texas city's multifamily market woes as this product type continues its downward cycle.