CAS Partners Announces Recap Advisors’ Brand Changing to CAS Financial Advisory Services

Posted on May 8, 2009 by Sharon Kramer

DALLAS, TX  

New Brand Positions Company to Promote Comprehensive Financial Solutions for Multifamily Residential Properties

DALLAS, May 4 – PRNewswire – CAS Partners, a world-class property and asset management services company, today announced the rebranding of its leading-edge financial advisory services and asset management business unit, formerly known as Recap Advisors, to CAS Financial Advisory Services. The new brand highlights the ability of CAS Financial Advisory Services to offer sophisticated financial analyses and asset management services for multifamily and affordable properties on a national scale.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090217/LA71659LOGO-a)

“Recap Advisors has been an acknowledged expert in the finance, restructuring and asset management of multifamily residential properties,” said Toni Portmann, CAS Partners CEO. “Rebranding under the CAS Partners’ umbrella allows us to provide a continuum of asset and property management at a time when properties, already susceptible to market turbulence, can benefit.”

For two decades, CAS Financial Advisory Services, headed by CEO David Smith, has provided financial solutions for nearly 800 multifamily and affordable properties with assets in excess of $4 billion. The company’s capital planning arm has also overseen more than 6,000 capital needs assessments. Large institutional owners, capital providers and congressional policymakers have utilized the company’s depth of knowledge in complex commercial real estate financing.

Currently the company oversees $4 billion in multifamily assets in four major asset classes: condominium loans, bonds and loans (including tax-exempt loans), sponsor equity and mezzanine loans.

“Our team of experts demonstrates a comprehensive understanding of the asset class,” said Smith. “Combined with the CAS Partners’ platform, we can address larger, more complex projects to effectively position multifamily and affordable housing owners amid shifting markets and government regulations.”

Smith will continue to lead CAS Financial Advisory Services as the firm’s CEO, and Todd Trehubenko will continue as president. As in the past, the firm will provide complete financial services, including: asset management, advisory assistance, transaction design and execution, physical needs assessments and capital planning, plus energy and green audits.

The rebranding includes a rollout of a new Web site (www.casfas.com), along with identity materials and a new CAS Financial Advisory Services icon. The company has recently relocated to new offices within Boston’s financial district at 38 Chauncy Street, Suite 600, and can be reached by calling (617) 338-9484.

About CAS Partners

CAS Partners is a world-class property and asset management services company. The company’s integrated business approach provides clients with a comprehensive array of multifamily real estate business services. CAS Partners’ unique network of services includes property management, financial advisory services, insurance services, construction management, utility services, credit services, and purchasing services. For more information, visit CAS Partner’s Web site at http://www.CASPartners.com.

SOURCE CAS Partners

prnewswire.com

Posted in Mold Litigation, Riverstone Residential, Toxic Mold | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Affordable Housing Project Builds Mixed Emotions – New Orleans

Posted on May 5, 2009 by Sharon Kramer

Some Neighbors Say ‘Not In My Back Yard’

Article – wdsu.com

The reason people are concerned about their property values going down is because unfortunately in most cases they do.  The reason property values go down is not so much building affordable housing but who owns it, who manages it and why they built it in the first place.  Most developments are built because the developers and the investors make good money with tax credits while portraying themselves as caring about helping lower income individuals.  Most are owned by investors who never see the property and have no interest in it other than the profit.  They hire huge property management companies to manage these properties and whose goal is to make the best profit for their client.  Along with the state and government agencies they ignore laws as far as the conditions of the property and screening tenants.  Basically, they all have made and are making good profits and could care less what happens to the development after that.  A good example of this type of situation is toxic mold infested Jefferson Lakes Apartments in Baton Rouge, La. managed (for the owners) by Riverstone Residential.  This is ignored by The Louisiana Housing Finance Agency whose goal is to provide SAFE and affordable housing.  These apartments are far from safe and all those involved are aware of this since a mold inspection was done during a sale in 2007 (other reports were done before that).  They could care less.  No wonder people are concerned, they should be.  It’s not that people don’t want affordable housing, it’s the way it is done for the wrong reasons.  katy

Posted in Environmental Health Threats, Louisiana Housing Finance Agency, Mold and Politics, Mold Litigation, Riverstone Residential, Toxic Mold | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Attorney Malpractice – Air Environmental Subpoena – Jefferson Lakes Apartments managed by Riverstone Residential

Posted on May 3, 2009 by Sharon Kramer

This is the Subpoena for Air Environmental – the mold testing company Riverstone Residential used at Jefferson Lakes Apartments #2907 (see apartment management orders 24-hour air test).  This is also the company used for mold testing at the complex during a sale in 2007 and obviously ignored (see mold inspection reports).

Again, records for 2005 and the preceding 3 years were subpoenaed.  Again, just like the records for Guarantee Service Team of Professionals, records are received for the wrong years to avoid having evidence that Riverstone Residential knew of mold problems (see attorney malpractice).  To avoid having evidence of Air Environmental having been to the complex before 2005 and therefore evidence that Riverstone Residential knew of mold problems, records for 2007 were sent.  I’m not sure if this was as obviously planned as the Guarantee Service Team of Professionals records or if Air Environmental themselves sent the wrong records.  Either way, this was not corrected.  Unfortunately, for the defendants and my attorney this revealed the mold testing in 2007 for the complex that documented the mold issues there and just ignored.

Again, there has been no answer on this from my incompetent and unethical attorney.

 

air_e_subpoena1

Posted in Environmental Health Threats, Louisiana Housing Finance Agency, Mold Litigation, Riverstone Residential, Toxic Mold | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

The most accurate description on ‘we saw that’ – god save us the organized crime gang that calls itself the loony looziana state legislature is in session

Posted on April 30, 2009 by Sharon Kramer

April 27, 2009

www.legis.state.la.us

 

the annual meeting of louisiana’s collection of freaks, perverts, criminals, blackmailers, blackmail victims, useful idiots, morons, liars, thieves, drunks, drug addicts, lunatics, rino’s, dino’s and so on and so forth convened in baton rouge at noon today.

wesawthat.blogspot.com

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Arizona Jury Awards Tenant $3.3 Million for Cognitive & Physical Injuries from Mold

Posted on April 28, 2009 by Sharon Kramer

Landlord allowed water leaks to go unrepaired until mold permeated her building.

COURTROOM NEWS
Harris Martin Publishing

April 28, 2009

PHOENIX — A Phoenix jury has awarded $3.3 million to a
woman who blamed her mold exposure and related illnesses on
her landlord’s negligence in failing to make timely
repairs. Minium v. Pillar Communities LLC, et al., No.
CV2004-014906 (Ariz. Super. Ct., Maricopa Cty.).

The nine jurors reportedly deliberated for two hours before
reaching a unanimous verdict in favor of plaintiff Robin
Minium and against her former landlord, Pillar communities
LLC. The defendant is one of the largest developers and
landlords in the Greater Phoenix area, with more than 4,000
apartment units, according to a trial report.

Minium is a former executive with American Express who sued
Pillar in 2004, complaining that Pillar failed to warn of
mold remediation in neighboring apartments and allowed
water leaks to go unrepaired until mold permeated her
building.

She alleged that she and other tenants had complained to
Pillar of water leaks and of feeling ill before Pillar paid
for remediation projects in other apartments.

Minium said she moved from her apartment in 2002, and she
complained that Pillar lost or destroyed her possessions,
including a family Bible, dishes, quilts, furniture and
inherited items. Pillar asserted that the items were
abandoned.

Trial on Minium’s claims began on April 14 before Judge
Craig Blakey, and ended on April 22.

At trial, Melanie Molenar, Pillar’s executive vice-
president, testified that Pillar intentionally did not warn
Minium about remediation efforts in other apartments
because it felt residents were safe.

Pillar also relied on allergist Miriam Anand, M.D., who
testified that mold can’t cause permanent or long-term
injury.

Expert witnesses for Minium included Mark Van Ert, Ph.D.,
CIH, of Tucson, Ariz., who opined that, based on the
remediation reports, Minium suffered from mold exposures
sufficient to cause illnesses.

She also relied on Michael Gray, M.D., of Benson, Ariz.,
who concluded that Minium has disabling cognitive and
physical injuries caused by mold exposure, and Tucson,
Ariz., psychologist Robert Crago, Ph.D., of Tucson, who
found through testing that Minium suffers a loss of
cognitive abilities.

Andrea and Adam Watters of the Watters Law Firm in Tucson
represent Minium.

Kendall Steele of Jardine, Hickman, Baker & Houston in
Phoenix represents Pillar Communities.

Posted on ToxLaw – toxlaw.com

Posted in Civil Justice, Environmental Health Threats, Health - Medical - Science, Louisiana Housing Finance Agency, Mold Litigation, Riverstone Residential, Toxic Mold | Tagged , , , , , , , , , , , , , , , , , , , , , | 2 Comments