The venture has closed on its first land acquisition for the development of a proposed Class A, 429-unit apartment community in The Woodlands, Texas area

Failed CRE deals rose sixfold in March, according to Real Capital Analytics. Separately, an Institutional Property Advisors survey found that 64% of multifamily developers would only accept a discounted pre-sale price of less than 5% from their estimated valuation.

The six-asset portfolio traded well below replacement cost, says Transwestern's John Bell.

By streamlining the design process, the firm has given ADU housing a new look with an affordable price tag.