Home Alone

There is an interesting and demographically important trend toward solo living. Today 35.7 million Americans live alone representing 28% of US households. That is up from 13% in 1960 and 23% in 1980, according to the US Census Bureau. The trend relates to delayed or foregone marriage, longer life expectancy, increased urbanization and rising wealth, all of which is prompting more Americans to go solo.

The Wall Street Journal ran an interesting article about the trend noting that consumer products companies are focusing a lot of attention on the lucrative market for singles. Refrigerators and ovens are shrinking, food companies are producing more single-serving options, and Betty Crocker is finding that singles are not using the extra time without a mate to cook because they are too busy.

From a real estate perspective this trend is driving developers to deliver more studios and one bedroom apartments. Historically one bedroom and two bedroom units were roughly equal, but not now. Today two bedroom units comprise, on average, approximately 35% of the units. Keep an eye on this trend for your business because it will have important implications.

Job Listings

SPONSORED JOB EASTERLY GOVERNMENT PROPERTIES Vice President – Asset Management (WASHINGTON, DC) Duties include: creating and implementing property-level business plans, financial reporting, management and oversight of property operations to include internal and third-party property management teams; maximizing property value by controlling operating expenses and driving leasing/re-leasing activities; and participating in acquisition and disposition activities.

THE DILWEG COMPANIES, LLC Senior Associate, Finance and Acquisitions (DURHAM, NC) Position will support both the Acquisitions and Finance departments in the underwriting and quantitative analysis of potential acquisitions and the operations of existing assets.  

LOEWS CORPORATION Commercial Real Estate Analyst (NEW YORK, NY) Duties include: analyzing prospective commercial mortgage loans and equity investments; presenting deals to the commercial real estate investment team and investment committee; and interfacing with mortgage/sales brokers, borrowers, attorneys, and third party providers related to deal packages received and the closing of loans or equity investments.  

HEALTHCARE TRUST OF AMERICA Commercial and Construction Project Development Manager (SCOTTSDALE, AZ) Position will be responsible for the development of new construction or major renovations to existing buildings. Delivery of the site and the responsibilities will commence at due diligence through construction. Individual will be the development manager responsible for all pre-construction activities including: oversight of engineers, architects and other consultants, budgeting, contract administration, scheduling, and coordination with operations.  

UNIVERSITY OF SOUTH CAROLINA Director of Facilities Operations (COLUMBIA, SC) Reporting to the Executive Director for University Housing in the Division of Student Affairs and Academic Support, this position will provide leadership for a comprehensive housing facilities operation that supports 7,200 beds distributed through 36 campus residence halls and houses, occupying approximately 2.1 million square feet of space at the main Columbia campus.  

SHORENSTEIN REALTY SERVICES, L.P. Asset Manager (Multifamily) (SAN FRANCISCO, CA) Position will be responsible for managing the lease-up phase for multifamily properties to ensure performance goals are achieved; monitoring portfolio to ensure achievement of targeted financial results per approved annual asset strategy; and participating in quarterly Operations Review with property management personnel.  

OHIO CAPITAL CORPORATION FOR HOUSING Asset Manager (COLUMBUS, OH) Candidate will be a primary relationship manager for a portfolio of LIHTC projects. Duties include interfacing with general partners, investors, management agents and other important stakeholders; evaluating financial information quarterly; and conducting physical inspection of assets and monitors for regulatory risk to protect investors’ interests.  

BUCKINGHAM COMPANIES Senior Vice President of Property Management (INDIANAPOLIS, IN) Position will be responsible for providing oversight of day-to-day activities of the property management department, including property operations, marketing, training, engineering/technical services and compliance.  

RUBENSTEIN PARTNERS Transaction Manager, Debt Investments (PHILADELPHIA, PA) Duties include: underwriting potential transactions in coordination with other team members; assisting in the origination and due diligence process; deal execution/closing, including working with all related third party providers; and drafting memoranda for investment committee.  

TRUAMERICA MULTIFAMILY, LLC Director of Capital Improvements (LAS VEGAS, NV) Director of Capital Improvements will direct, oversee, and coordinate construction project management activities associated with the renovation and improvement of the Firms’ apartment communities in Nevada metropolitan areas. This is a remote position as travel to various apartment communities will be a regular occurrence.