Lack of existing inventory boosts builder confidence to key marker
Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material...
Senior housing lease-up rates recovering
A whitepaper from NIC MAP Vision looks at how the lease-up rates for senior housing properties have changed over the past 10 years. It finds that the pandemic greatly slowed lease-up rates for new...
Sunrise Management names new president
San Diego-based Sunrise Management—a California-focused property management firm—has announced the promotion of longtime company executive Theresa Cordero to president. Cordero, who has worked for Sunrise since 1991, was elevated to president from the position of...
California rent control update
A measure which would expand the number of properties in California which could be subject to rent control is working its way through the State Senate. The bill, SB-466, would allow local jurisdictions to...
GFI Realty trades Richmond Hill 36-unit multifamily building for $5.095 million
GFI Realty Services, LLC announced the $5.095-million sale of 86-21 112th Street, amultifamily building comprised of 36 units, located in the Richmond Hill section of Queens. GFI Realty Director Ohad Babo, and associate Yosef Magarefteh, also...
Construction materials prices unchanged in April
The April producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were unchanged for the month, seasonally adjusted. The index of components and materials for construction...
Cushman & Wakefield and Greystone collaborate on sale and financing of 40-unit community in...
The joint venture team of Cushman & Wakefield and Greystone announced that they arranged the sale of and provided acquisition financing for Salisbury Court, a 40-unit apartment community located at 1501 Old Salisbury Ct....
The Mogharebi Group secures $50.5-million sale of 156-unit apartment community in Ontario, California
The Mogharebi Group (TMG) has arranged the $50.5 million sale of The Landing Apartments, a 156-unit multifamily community in Ontario, California. Located at 3364 Honeybrook Way, The Landing is a garden-style apartment community with a...
HUD strengthens standards and aligns inspection regulations for HUD assisted housing
The U.S. Department of Housing and Urban Development (HUD) published the Final Rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE) in the Federal Register. The rule proposes a new...
Multifamily CMBS delinquencies improve in April
Two reports from Trepp show small improvements in the multifamily CMBS market with declines in both the CMBS delinquency rate and the special servicing rate. CBMS delinquency rate unchanged overall One monthly Trepp report focuses on...
Multifamily mortgage originations down in Q1
A report from the Mortgage Bankers’ Association (MBA) says that multifamily mortgage originations in Q1 2023 were down 55 percent on a year-over-year basis. Commercial mortgage originations overall fell 56 percent. Commercial mortgage originations down...
Rent growth rises in April
Yardi Matrix reported that national average apartment rent increased $5 in April to $1,709 per month. This is the largest monthly rent increase reported by Yardi Matrix since last July and indicates that a...
Berkadia arranges debt & equity recapitalization of Fort Lauderdale apartment community
Berkadia announces it has secured a senior lender and preferred equity provider for the $51.5 million refinancing of The Village at Eastpointe Apartments, a 296-unit apartment complex located in Fort Lauderdale, Florida. Managing Director...
Magma Equities and Macquarie Asset Management acquire 285-unit apartment community in Arlington, Texas
Magma Equities and a global real estate fund managed by Macquarie Asset Management has acquired Bardin Greene, a 285-unit garden style multifamily property in the Dallas-Fort Worth Metro city of Arlington, Texas from Moody...
Mixed employment picture in April
The Employment Situation Report from the Bureau of Labor Statistics stated that apartment operations employment fell slightly while residential construction employment rose overall in the latest month. Total employment continues to grow The Bureau of Labor...
