News

multifamily housing construction

Multifamily housing construction slows in August

The Census Bureau released its monthly new residential construction report for August 2020. It shows a slowdown in all phases of multifamily housing construction. Permits fall The number of permits issued for buildings with 5 or...
3821-23 W. Wrightwood

Interra Realty brokers $2.075 million multifamily sale in Chicago’s Logan Square neighborhood

Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $2.075 million sale of 3821-23 W. Wrightwood Ave., a 13-unit multifamily building in Chicago’s Logan Square neighborhood. The price per...

COVID’s impact on multifamily CRE loan credit risk

A report from Moody’s Analytics attempts to predict the impact of the fallout from the COVID-19 pandemic on the credit quality of commercial real estate (CRE) loan portfolios backed by multifamily and other property...

Parkview Financial provides $22.75 million construction loan for 67-unit townhome project in Chicago, Illinois

Parkview Financial announced it has provided a $22.75 million construction loan to a joint venture of Noah Properties and MPM Holdings for the development of a for-sale, 67-unit townhouse project. Sited on 2.2 acres...
Vanowen Collection

Stepp Commercial completes $3.5 million sale of Vanowen Collection, an 18-unit apartment property in...

Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $3.5 million sale of Vanowen Collection, an 18-unit apartment property located at 12715 to 12719 Vanowen Street in North...
video

Rate Desk Wednesday, September 16, 2020

 September 16, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. With HUD volume up nationwide and an expected $21B in commitments, here are some important tips to avoid preliminary rejection. Rate Desk...
One Hampton Lake

Passco Companies acquires best-in-market Class A multifamily community in Bluffton, South Carolina for $78...

Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S., has acquired One Hampton Lake, a 330-unit Class A multifamily community...
rent payments

Alternate views on rent payments

With COVID disrupting the economy, there is high interest in assessing how many renters are failing to make their rent payments. This article examines alternatives to the NMHC rent tracker. Focus on the big guys The...
Washington Place

Stepp Commercial completes $6.3 million sale of Washington Place, a 15-unit apartment property in...

Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $6.3 million sale of Washington Place, a 15-unit apartment property located at 401 Washington Avenue in Santa Monica, California. Principal...
The Fort

Sunrise Management adds 84 multifamily units to San Diego portfolio

Following the $45.08 million sale of two high profile urban San Diego mixed-use projects, San Diego-based Sunrise Management has taken over day-to-day management of both communities—Park + Polk and The Fort—both previously owned and...
NMHC’s Rent Payment Tracker Sept 13

Rent Payment Tracker: rents trending down

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 86.2 percent of apartment households made a full or partial rent payment by September 13 in its survey of 11.4 million units of professionally...
prop 21 votes

Taking sides on Prop 21

The latest rent control initiative to appear on California’s ballot will be voted on this November. People and groups are now declaring where they stand on Proposition 21. Recapping the basics Prop 21 would allow rent...
Channel Club

$63 million recapitalization secured for Channel Club luxury high-rise in Tampa

JLL Capital Markets announced that it has arranged a $63 million recapitalization of the Channel Club, a recently completed two-story Class A high-rise apartment community located at 1115 E. Twiggs St. in Tampa, Florida. JLL...
Westminster Towers

$28 million Puget Sound area multifamily asset sale brokered by Marcus & Millichap

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Westminster Towers, a 139-unit multifamily complex in Tacoma, Washington. The property...
32 Arcadia

32 Arcadia, 104-unit multifamily community in Phoenix, Ariz., sells for $14.8 million

32 Arcadia, a 104-unit multifamily community, located at 3211 E. Pinchot Avenue in Phoenix, Arizona, has sold for $14,800,000. The buyer was Cowabunga Two, LLC, a private capital family office that focuses on acquiring...
Do NOT follow this link or you will be banned from the site!