Multifamily

Earlier last year, the firm acquired The Reserve at Copper Chase, a 132-unit apartment and townhome community at 3145 Honey Run Drive less than 10 miles from the View at Mackenzi.

"We expect Q2 to be the real barometer of the pandemic's impact on the market," says Halstead's Stephen Kliegerman.

The availability of debt is one of the reasons why Class B apartments should weather the storm.

The majority of survey participants anticipate that the economy will need at least 12 months to 24 months to fully recover from the pandemic while 30% of participants project a two-year to five-year recovery.

The two companies are looking three years ahead to a scheduled summer 2023 opening for the Dunavant and Distribution project.

The transactions had been in progress for roughly one year, and were finalized just as the coronavirus began to spread across the country.

On Sunday, the governor outlined a phased plan to reopen New York that starts with the low-risk construction and manufacturing sectors.

The project will convert the former residential hotel building into 508 affordable units.