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IN THIS ISSUE

Featured Story
  • NAA/NMHC release a new report 'The Trillion Dollar Apartment Industry'

    CAA News
  • Education In Focus
  • CAA Trade Show and Education Conference Attendee Registration Live
  • CAA Golf Outing


  • Industry News
  • New York investor cuts biggest suburban apartment deal since 2008
  • Apartment rent growth expected to decelerate in top markets ahead of new supply wave
  • Proposed bedbug ordinance a touchy subject
  • Downtown office sales show appetite for more risk
  • U of C pursues building 267-unit apartment building on 53rd
  • Apartment market enjoying bonafide building boom
  • Apartment REIT home properties is rewarding shareholders

  • CAA breaking news: NAA/NMHC release a new report 'The Trillion Dollar Apartment Industry'
    NMHC    Share   Share on FacebookTwitterShare on LinkedinE-mail article
    A new study says that apartment construction and operations contributed $6 billion to Chicago economy. Illinois received $41.4 billion economic contribution from combined construction, operation and resident spending. The report, along with an interactive map and economic impact calculator is available on the new website www.WeAreApartments.org. For more information read the attached press release for Chicago and Illinois.



    Earn your leasing certification — 9 a.m. to 4:30 p.m. March 12 and 19
    CAA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    Are the leasing professionals in your company equipped with the necessary skills to take your business to the next level? Whether a seasoned veteran or just starting in the industry, the NALP course will give participants the opportunity to enhance job performance and meet the professional quality standards your company expects. This NAA designation course is ideal for:
  • Time-challenged leasing professionals
  • Seasoned agents wanting to quickly enhance their experience with a designation
  • New leasing agents
  • Job seekers wishing to boost their resumes and experience
    Individual classes may be taken on a stand-alone basis. For more information contact Andrea Brady, or call 312-207-1890, ext. 5.
  • More




    Certified Pool Operator certification program — 8 a.m. to 4:30 p.m. April 24-25
    CAA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    The Illinois Department of Public Health requires pools and spas to meet water quality and safety standards and enforces these through rigorous inspections. The last thing you want is to have your pool shut down during a prime summer event due to a failed inspection. Join us for our new, two-day CPO certification program and learn the information vital for safe swimming pool and spa operations. More



    TSEC — Register Now!
    CAA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    The 2013 Trade Show & Education Conference registration is now live for all direct employees of property management companies. Nonexhibiting vendor companies are not allowed. Walk the show floor for free or register to attend our Education Conference. Click here to register online or here for a faxable registration form. A full list of classes, descriptions and times is available here.
    Associate Members: The show is now 97 percent sold. Register today to secure one of the last six booths.
    More




    CAA Annual Golf Outing — Friday, May 17 at Cog Hill in Lemont
    CAA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    That's right the CAA golf outing is moving to Friday. This is a very popular event that regularly sells out. Sponsorship registration "first come first serve" opens at 9 a.m. March 8 by fax or in person only. Final sponsorship information will be posted on our website www.caapts.org March 5 for review and selection.


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    New York investor cuts biggest suburban apartment deal since 2008
    Crain's Chicago Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    In the largest suburban apartment sale in five years, New York investor TGM Associates L.P. paid $101 million for a 712-unit apartment complex in Willowbrook. TGM bought the west suburban property, formerly known as the Communities of Ascot Glen, from an affiliate of RREEF, financing the acquisition with a $75 million loan from Fannie Mae, according to DuPage County property records. TGM has since renamed the community TGM Willowbrook and plans to spend an additional $12 million on renovations, said TGM Managing Principal and CEO Thomas Gochberg. More

    Apartment rent growth expected to decelerate in top markets ahead of new supply wave
    CoStar Group    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    With continued strong demand for apartments being met by a legitimate multifamily building boom in many U.S. cities, increasing apartment rents are expected to reach something of an inflection point in 2013. Rent growth in some metros such as Boston, Washington, D.C., and New York is cooling down as those markets are doused by a wave of new supply from developers. Other areas of the U.S., such as the San Francisco Bay Area and Silicon Valley, remain red hot, while in still other markets like Southern California, St. Louis and Salt Lake City, apartment vacancies have tightened to the point where rents are starting to increase again. More

    Proposed bedbug ordinance a touchy subject
    Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    Chicago is waging war on bedbugs. A proposed ordinance declares the nocturnal parasites a "public nuisance" and enlists condominium associations, landlords and others to join the fight. "Bedbugs are a growing problem in the city, as they are in many cities across the country," said Ald. Harry Osterman, 48th, who co-sponsors the ordinance. Among the provisions of the ordinance, condominiums and cooperatives must prepare a pest management plan for the detection, inspection and extermination of bedbugs in their buildings. More

    Downtown office sales show appetite for more risk
    Crain's Chicago Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    Investors in downtown Chicago office buildings embraced more risk in 2012, buying more fixer-uppers or properties with high vacancy than they did the two prior years. Twenty downtown office buildings changed hands for a combined $2.64 billion last year, versus 15 sales for $2.74 billion in 2011, according to Chicago-based Jones Lang LaSalle Inc. More

    U of C pursues building 267-unit apartment building on 53rd
    Chicago Sun-Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    The University of Chicago, encouraged by early success of its Harper Court redevelopment, is pushing forward with plans to build a retail and apartment building less than a half-mile away from it. The school has asked the city to rezone property it owns at 1330 E. 53rd St., a more than 1-acre site with a Mobil gas station. The zoning request would allow construction of a 267-unit building with 30,000 square feet of retail space at its base. More

    Apartment market enjoying bonafide building boom
    Real Estate Weekly    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    Sparked by a sharp increase in new residential projects, New York City construction starts reached $16.1 billion in 2012, a five percent increase from 2011, according to a New York Building Congress analysis of McGraw-Hill Construction Dodge construction data. The data used in the report encompass all project starts between 2008 and 2012, including brand new construction as well as alterations and renovations to existing structures. The data reflect the total estimated value of each initiated project through the entire period of construction. More

    Apartment REIT home properties is rewarding shareholders
    Seeking Alpha    Share    Share on FacebookTwitterShare on LinkedinE-mail article
    America is becoming a rental nation. Home ownership peaked in 2004 at 69 percent and has since been steadily declining, dropping to 65 percent in 2012. Higher down payments, more stringent documentation requirements and the death of subprime have removed entire population segments from being possible homeowners. Meanwhile, higher maintenance and property taxes have made homeownership a more expensive proposition. Despite lower home prices, rents have continued to steadily increase across the country, reflecting the increasing demand. More
     

    CAA In Focus
    Colby Horton, Vice President of Publishing, 469.420.2601
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    Ashley Whipple, Content Editor, 469.420.2642  
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