Multifamily

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.

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.

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.

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.

“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.

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

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

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