Luxury Institute Survey: Vacation Homes and Exotic Vacations Luxury Experiences of Choice for Wealthy U.S. Consumers

Wealthy U.S. consumers report that owning a vacation home is the item they most desire, and taking exotic vacations is their most sought-after luxury experience, according to a Luxury Institute survey of U.S. consumers with average household income of $332,000 and average net-worth of $3.3 million. The study was developed with Resonance Consultancy Ltd. According to the survey, wealthy U.S. consumers place more importance on experiences such as owning... 

MetLife Foundation and Enterprise Recognize Exemplary Models in Affordable Housing

MetLife Foundation and Enterprise announced the 2008 recipients of the MetLife Foundation Awards for Excellence in Affordable Housing this morning at the Enterprise Community Conference in Baltimore. Six community-based organizations were awarded a total of $180,000 for leadership, innovation, and effectiveness in the fields of supportive housing and property and asset management. Celebrating its 13th year, the MetLife Foundation Awards program has... 

U.S. Army, Chevron and Keenan Development Receive 2008 National Council for Public-Private Partnerships Infrastructure Award

The National Council for Public-Private Partnerships (NCPPP) announced today it has selected the U.S. Army’s Enhanced-use Leasing Program, Chevron Energy Solutions and Keenan Development to receive the council’s 2008 Infrastructure Award. The award recognizes outstanding leadership and an exemplary enhanced-use leasing project that illustrates the best practices and innovative approaches in the use of public-private partnerships (PPPs). The... 

Despite Economy, Landlords Should Not Make Hasty Decisions on Renters

Faced with an empty property in this rough economy, landlords may be temped to relax their standards. Since they have monthly mortgages, taxes and other expenses, they can be desperate to get someone — anyone — in their home to pay the rent. This strategy, however, could land them a tenant who cannot pay the rent and ultimately must be evicted — which presents a greater headache than just an empty property. Here are tips for landlords... 

EMCOR Group, Inc. Subsidiary Awarded Contract for Mechanical Systems Installations at EMC Corporation

EMCOR Group, Inc. (NYSE: EME), a Fortune 500® leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its EMCOR Services Northeast subsidiary has received a contract for the installation of mechanical systems at EMC Corporation; located in Hopkinton, MA, EMC is a world leader in developing and providing information infrastructure technology and solutions to... 

SouthWest Water Company Provides Update on Corporate Developments

SouthWest Water Company, a leading provider of water, wastewater and public works services, today said that it has received an extension from the syndicate of lenders for its credit facility with regard to reporting financial results for the 2008 third quarter, and as a result, continues to have full access to the $150 million credit facility for general corporate purposes. On November 10, 2008, the company announced that it would delay the filing... 

American Realty Advisors Provides Preferred Equity Financing for the Grand Hyatt Washington

American Realty Advisors announced that it has provided preferred equity financing to an affiliate of Quadrangle Development Corporation for the recapitalization of the Grand Hyatt Washington, an 888 room, luxury full-service hotel located in the burgeoning East End of Washington, DC. The investment was executed on behalf of one of American’s separate account clients. The Grand Hyatt Washington, built in 1987, underwent a full-scale guestroom,... 

Citi Foundation Awards $500,000 to Enterprise Community Partners Grant to Further Leadership and Innovation in Green, Affordable Housing

Citi Foundation awarded Enterprise Community Partners a $500,000 grant in support of its Green Communities ® initiative, the largest effort in the U.S. to bring the benefits of green building to low-income people. The grant will support the continued growth and expansion of Green Communities by enabling Enterprise to create more green affordable developments, deepen technical support in improving building energy performance and tap the emerging... 

Grubb & Ellis Company Forms Financial Services Asset Management Practice to Help Clients Create Value in Current Environment

Grubb & Ellis Company, a leading real estate services and investment firm, today announced that it has formed the Financial Services Asset Management Practice designed to provide critical services to financial institutions, special servicers and government agencies dealing with challenged real estate and mortgage assets. “The current environment is placing significant stress on a variety of our clients who are managing real estate debt as... 

Merix Announces Completion of Huiyang, China Expansion

Merix Corporation a leading provider of advanced high-reliability printed circuit boards, today announced that an expansion and technology upgrade in their Huiyang, China (HY) factory is complete. Over the past two years, Merix has invested over $23 million in the HY expansion. The result is a 400 thousand square foot facility that has roughly three times the inner-layer manufacturing capacity when compared to a year ago. The Merix HY facility can...