News: Brokerage

CPC names three new board members: Beal of Related, Tomson of Capital Bank and Wiener of Wells Fargo

The Community Preservation Corp. (CPC) has elected three new affordable housing career leaders to the CPC board: * Bruce Beal, Jr. is president and general partner of Related Cos. * Anders Tomson is president of Capital Bank, a division of Chemung Canal Trust Company. * Alan Wiener is head of Wells Fargo Multifamily Capital. "As we continue to strengthen CPC's future, we will need the input and guidance from valued experts to help us in the next phase of the organization. Anders, Bruce, and Alan will certainly be welcome voices to guide CPC in pursuing its mission of high-quality housing for all New Yorkers. The board is pleased to welcome these distinguished new members to our team," said Michael Hegarty, CPC board chairman. "We are honored to welcome Anders, Bruce, and Alan to our board. As recognized leaders in New York real estate, their wide-ranging experience will provide CPC with unique perspective and enhance our efforts to strengthen the housing stock in communities throughout the state," said Rafael E. Cestero, President and CEO of The Community Preservation Corporation. "I am certain that their guidance and insight will be a tremendous asset to the board as CPC looks to the future."
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Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,