The new ownership plans to invest and additional $55 million to redevelop the 531-room property.
Tenants whose multi-year leases are expiring are now facing rents averaging 25% higher as they look to renew.
As more real estate funds increase multifamily allocations, they are buying operating companies as part of the business model.
Sponsored by Rhino
The multifamily industry is rebounding from the largest disruption in American housing since the Great Recession. Keeping tabs on historic trends, within the context of post-pandemic data, has tremendously helped CRE professionals better navigate the industry. This report summarizes the current state of the multifamily housing industry.
Sponsored by essensys
Digital transformation has become a business imperative. As CRE shifts from an asset lease to a service delivery model, data-driven decision making will continue to mature. Download this eBook for a roadmap and best practices to achieving the benefits of digitization.
Sponsored by Rhino
In order to reach the fastest-growing renter segments in the U.S. (Gen Z and Millennials), property owners need to stand out from the crowd with amenities that fit renter needs. This whitepaper explores the emerging trends that are attracting these renters, along with the amenities that will shape expectations for digital access, financial flexibility and convenience for years to come.
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