Call for Entries
Think your CEO is the best in the industry? Have a fabulous apartment property you can’t wait to show off? Enter the 2006 Multifamily Executive awards contest. For the first time, the entry process will take place online at www.mfeawards.com. Entry forms with fees are due May 16, with binders due June 30. Winners will receive recognition at the Multifamily Executive Conference in October. Winning entries will be featured in upcoming issues of the magazine.
Questions? Contact Rachel Z. Azoff at 202-736-3494 or razoff@hanleywood.com.
Disappearing Act
Several years of frantic condo conversions have dramatically reduced South Florida’s apartment stock. In 2002, there were 174,995 apartment units in Palm Beach, Broward, and Dade counties, according to McCabe Research and Consulting. Now, only 104,714 rental units remain in those markets. “It’s taken more than 220 of these complexes out of the inventory,” says Jack McCabe, president of the company. “It’s a huge problem.”
–Les Shaver
New ‘Hoo
Home Properties CEO Ed Pettinella may be making some trips to Charlottesville, Va., next fall. Pettinella’s son, Ryan, recently committed to play for the University of Virginia Cavaliers (often referred to as the Wahoos). The younger Pettinella, a 6’9″ post player, previously played at The University of Pennsylvania for two seasons before transferring to UVa.
–Les Shaver
ISO the Under-40 Crowd
Know of an upcoming multifamily entrepreneur under 40? Or what about a young shining star at big private company or REIT? If so, drop us a note with the name and contact information of this standout performer at lshaver@hanleywood.com.
–Les Shaver
Got Mold?
A new mold risk reduction program helps protect lenders and developers against the financial fallout associated with the pesky fungi. The program, introduced by the nonprofit Greenguard Environmental Institute, certifies that builders use industries’ best practices during the design, construction, and ongoing operations of newly built multifamily and commercial properties to safeguard against the damage and resulting losses caused by mold. For more information, visit www.greenguard.org.
–Rachel Z. Azoff
Money Talks
Want to find out what your counterparts earn? You might just be in luck. Currently, the Securities and Exchange Commission allows the public to see salary packages for the CEO, CFO, and the next three highest-paid executives in management at public companies. But a new SEC proposal calls for the salary disclosure of up to three additional high-paid employees.
–Rachel Z. Azoff