Multifamily

City officials will soon implement phase-one of the Bayfront redevelopment plan, which encompasses a mix of multifamily units across 16 acres of the project's 100-acre property.

New York-based real estate lending company Greystone revealed Thursday that it has provided $91.3 million in Fannie Mae Delegated Underwriting and Servicing loans to refinance a portfolio in the Grand Canyon State with 1,406 multifamily units.

The 27-unit building, which is getting finishing touches, trades for $411,111 per unit.

In what is normally considered prime leasing season, rents declined nationally by .3% month over month, with the largest drops in gateway markets, according to Yardi Matrix.

Zillow said the 2.2 million Gen Zers represent an estimated $726 million in rent payments each month -- about 1.4% of the rental market at risk.

As the industry continues to experience an increase in self-guided apartment tours and contactless leasing, Tour24 has developed tips on how to return to the new normal.

According to JLL's Darcy Miramontes, there have been no multifamily sales since the onset of the pandemic.

The joint venture, poised to invest up to $250 million to develop multifamily communities in Southern California with a focus on Greater LA, has already closed on land acquisitions in Burbank and West Hollywood.