Multifamily

Event Coverage

GlobeSt.com Celebrates Building Blocks Foundation Fund

Natalie Dolce | September 21, 2018

We joined more than 400 commercial real estate colleagues last night to recognize the collective work of Building Block supporters and community partners.

News

NRP Group Enters Atlanta With Eye On MF

David Wilkening | September 21, 2018

NRP views the Atlanta market is similar to other areas where it is active.

News

JBG SMITH Sells Alexandria MF For $62M

Erika Morphy | September 21, 2018

Morgan Properties bought the 308-unit, garden style apartment community.

Leon Capital Breaks Ground on MF Project on Austin’s South Congress

Mary Ann Azevedo | September 20, 2018

The development marks the first multifamily project in Austin for the Dallas firm.

News

NorthMarq Opens Multifamily Investment Sales Office in Dallas

Mary Ann Azevedo | September 20, 2018

The Minnesota company is the second this week to establish a multifamily presence in the Texas city.

Chicago Region Now Has Two Housing Markets

Brian J. Rogal | September 20, 2018

Affordable homes are selling faster than ever, but luxury homes go unsold for months.

News

Equity Residential Buys SkyHouse Denver High-Rise

John Jordan | September 19, 2018

SkyHouse Denver also includes 6,650 square feet of street-level retail and parking for 485 vehicles.

News

CapitaLand Buys US Apartment Portfolio For $835M

Erika Morphy | September 19, 2018

The 3,787-unit, Class B portfolio is located around Seattle, Portland, Los Angeles and Denver.

News

‘It’s Time, DC’ Starts Ad Campaign to Restrict Short-Term Rentals

John Jordan | September 19, 2018

The ad campaign began this week and features DC residents and community leaders calling on the City Council to crack down on commercial hosts buying up homes to rent short-term on Airbnb and thus depleting the district’s affordable housing stock.

News

Nonprofit Uses Pay from Savings Plan for Upgrades

Lisa Brown | September 19, 2018

Even with incentives from utilities and the government, Mercy Housing needed a more creative solution so it partnered with Bright Power to upgrade 80 properties, GlobeSt.com learns in this EXCLUSIVE.

News

Affordable Housing Remains a Top Priority in Seattle

Lisa Brown | September 19, 2018

The recent purchase of Link Studios Apartments represents Mt. Baker Housing’s first new construction and a rare open-market acquisition by a nonprofit developer for affordable housing.

Analysis

Industrial Properties Attract Buyers in "Saturated" Texas MF Market

Mary Ann Azevedo | September 18, 2018

More multifamily investors are diversifying, looking for higher returns.

Most L.A. New Development Starts Near Transit

Kelsi Maree Borland | September 18, 2018

The multifamily new construction pipeline in Los Angeles is almost entirely concentrated near transit line, but there are some outliers.

Commentary

Forecasting In A World Of Black Swans

Joel Ross | September 18, 2018

There are so many black swans circling now, that the level of certainty of any forecast is suspect, good or bad.

News

Newton Mixed-Use Project Secures Construction Financing

John Jordan | September 18, 2018

The $30.167 million construction and permanent loan was provided by Eastern Bank and was arranged by Holliday Fenoglio Fowler, L.P.

News

FCP Continues Disposition of St. Charles Properties

John Jordan | September 18, 2018

Preservation Partners added the 100% leased Headen House (136 units) and Huntington (204 units) Section 8 communities in St. Charles, MD to its portfolio.

US Multifamily Demand May Expand Even More

Brian J. Rogal | September 18, 2018

Absorption has matched supply for years, and 2018’s second quarter national vacancy rate of 4.6% almost equals 2015’s second quarter low of 4.5%.

News

California Investor Acquires Stamford Multifamily

John Jordan | September 18, 2018

A joint venture of Norwalk, CT-based Fuller Development and Spinnaker Real Estate Partners sold the 183-unit market rate apartment property to Friedkin, according to brokerage firm CBRE.

News

Cushman & Wakefield Arranges $52M Construction Financing for Hackensack MF Development

Steve Lubetkin | September 18, 2018

Waypoint Residential is set to launch ground-up construction of 235 class A apartments.

News

Grubb Properties Proposes Rezoning for Park at Perimeter Center East

Steve Lubetkin | September 18, 2018

The request proposes a walkable, mixed-use development that will include a mix of 900 condominiums, 500,000 square feet of new office space, 12,000 square feet of retail and nearly three acres of green space.

News

Affordable Housing Reaches Crisis Levels in Austin

Lisa Brown | September 17, 2018

According to Austin’s Strategic Housing Blueprint, the city will need 60,000 new housing units for low-income families, plus another 75,000 market-rate units to meet its housing needs in the next decade.

Breaking News

Multifamily Portfolio Gets Financing Jolt

Lisa Brown | September 17, 2018

A 12-property 455-unit multifamily portfolio with 13 ground-floor retail suites just received $113.5 million via a six-year (including extension options) floating-rate loan through an affiliate of Walton Street Capital.

Trion Expands Value-Add Reach With Second Fund

Kelsi Maree Borland | September 17, 2018

The firm launches a new value-add multifamily fund with a $150 million buying capacity, but will expand into new West Coast markets and larger assets.

Commentary

Rent Control, a California Nightmare

Joseph Ori | September 17, 2018

It is almost assured that Proposition 10 will pass, and the state of California will become a free for all with different, complex and in many jurisdictions, nonsensical rent control policies. The biggest risk for apartment owners and developers is risk of the unknown.

Analysis

For CRE, Florence Packed Less Of A Wallop Than Feared

David Wilkening | September 17, 2018

Damages from Florence are still too early to assess but indications are that it will less impact on commercial real estate than some previous hurricanes.

News

American Realty Acquires 329-Unit Luxury MF Asset In Midtown Atlanta, GA

Steve Lubetkin | September 17, 2018

“We believe Azure on the Park is a best-in-class asset with a best-in-market location,” says Glen Weisberg, executive vice president, portfolio management at ARA.

What San Diego Can Learn From Other Downtown Revitalizations

Kelsi Maree Borland | September 17, 2018

Downtown San Diego is hitting a growth spurt, but it is coming with the same growing pains of other downtown revitalizations.

Why Can’t L.A. Build Density Like New York City?

Kelsi Maree Borland | September 17, 2018

The lack of a mass transit system has impeded from Los Angeles from creating the density that it needs to accommodate growth.

OC Housing Trust Will Launch in 2019

Kelsi Maree Borland | September 17, 2018

AB 448 has passed through the State Legislator and will launch in 2019 as a gap-funding source to build permanent supportive housing.

News

Daniel Tishman Heads List of REBNY Award Winners

John Jordan | September 17, 2018

Tishman was selected as this year’s Helmsley award honoree, which is presented to an industry member for “their invaluable contributions to New York’s civic welfare and the real estate community.”

Q&A

Land Costs Propel Developers to Maximize Efficiencies

Lisa Brown | September 17, 2018

SVN’s Getty says worsening traffic conditions are accelerating the values of in-fill parcels as developers appear willing to offer higher prices to acquire land closer to high-tech employers and transit corridors.

Urban Living Hatches in Secondary Markets

Kelsi Maree Borland | September 14, 2018

Housing Trust Group is breaking leasing records with its new $63 million apartment development Aviva in Phoenix, illustrating a pent-up demand for urban-style living in the market.

News Research

DC Condo Sales Volume, Pricing Will Reach New Highs in 2018

John Jordan | September 14, 2018

The report notes that condo supply hit its lowest level of the decade, ending mid-2018 with 1.91 months of supply on the market.

News

Seattle Multifamily Maintains 95%+ Occupancy

Lisa Brown | September 14, 2018

Properties such as The James have recorded near double digit year-over-year rent growth due to the large disparity between rents in downtown and suburbs as renters desire higher-quality units near jobs.

Can Glendale Absorb Its Growing Housing Supply?

Kelsi Maree Borland | September 14, 2018

The apartment supply in Glendale has grown 10% in the last few years, but even as the biggest project yet, Next on Lex, is delivering, absorption and rents remain strong.

Rent Growth Strongest in Aging Apartment Stock

Kelsi Maree Borland | September 13, 2018

Apartment rent growth has tempered in Los Angeles, but older apartment buildings are seeing strong rent growth as demand for luxury properties softens.

News

City’s Residential Market Shows Continuing Signs of Softening

John Jordan | September 13, 2018

In its report on the three boroughs for the month of August, the brokerage firm says that concessions remain a key part of leasing strategy in Manhattan and Brooklyn and to a lesser degree in Queens.

News

Wharton Residential Profits from Nashville Area Multifamily Sale

John Jordan | September 13, 2018

The seller, a Wharton equity company, acquired the property in early 2017 in an off-market transaction from the original developer and thereafter undertook significant renovations at the property that produced dividends.

News

Vista Realty Trades Georgia Multifamily for $49M

John Jordan | September 13, 2018

The recently completed property was acquired by Hudson Capital Properties, a New York-based company headed by the family that runs Hudson Media, the leading magazine distributor in the Northeastern U.S., as well as the nation's largest airport news and concessionaire.

News

Storied South Cathedral Mansions Reaches Key Leasing Milestone

John Jordan | September 13, 2018

The property, located at 2900 Connecticut Ave., NW in Washington’s historic Woodley Park neighborhood, achieved occupancy stabilization in just eight months after the initial lease-up period.

News

Silicon Forest Nabs Tech and Residents

Lisa Brown | September 13, 2018

Since 2013, improving economic conditions in the housing market area have led to increased net in-migration, averaging 24,800 people annually, and the Beaverton-Hillsboro submarket comprises 28% of the total.

AAGLA: Prop 10 Places Litigation Burden on Taxpayers

Kelsi Maree Borland | September 13, 2018

The Apartment Association of Greater L.A., which has been actively campaigning against Prop 10, says that a hidden detail will place litigation costs on taxpayers.

News

Multifamily Deliveries Ramp Up After Harvey

Lisa Brown | September 12, 2018

With a slowdown in apartment deliveries during the last year as part of the recovery from Hurricane Harvey, average occupancy rate elevated amid sustained rental demand as of the second quarter.

Why Apartment Rent Growth Is Still Heading Up

Kelsi Maree Borland | September 12, 2018

Apartment rents grew 3.1% nationally, but West Coast hubs are growing at an even faster pace.

News

New JPMorgan Chase Fund to Invest $500M in 30 US Cities

John Jordan | September 12, 2018

JPMorgan Chase issued a request for proposals today for cities to apply for possible funding that closes on Nov. 30, 2018. Winners will be announced in the spring of 2019.

News

Look What’s Trading in Washington, DC

Erika Morphy | September 12, 2018

Circle Towers in Merrifield, Va., are said to be trading for $165 milion.

News

Condo Deconversion Trend Still Going Strong

Brian J. Rogal | September 12, 2018

Over the past 24 months, ending July 15, there have been more than 20 so-called “deconversions” announced in Chicago.

Gen-Z Could Ramp Up Homeownership in Next Five Years

Kelsi Maree Borland | September 12, 2018

Gen-Z is much more open to homeownership than millennials, and the oldest segment of the generation plans to buy a home in the next five years.

Condo Revival May Soon Hit the Suburbs

Brian J. Rogal | September 11, 2018

Many developers focus on condo deconversions, but others feel the time is right to launch new projects.

News

Inland Real Estate Acquires Tampa Multifamily

John Jordan | September 11, 2018

The multi-family property consists of 24 two-story buildings with 20 one-bedroom, 152 two-bedroom and 20 three-bedroom units.