Berkadia arranges $37 million refinance of apartment community in Huntsville, Alabama
Berkadia announces it has arranged a $37 million loan to refinance Ascent at Jones Valley, a 431-unit apartment and townhome community in Huntsville, Alabama. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and...
Class A apartment community in Lakewood secures fixed-rate permanent financing
JLL Capital Markets announced that it has arranged fixed-rate refinancing for Traverse Apartments, a newly constructed, Class A, 281-unit, luxury apartment community located within the Denver metro in Lakewood, Colorado. JLL worked on behalf of...
JLL arranges sale of 190-unit build-to-rent development site in Tampa MSA
JLL Capital Markets announced that it closed on the sale of GroveParc Townhomes, a 48.08-acre, build-to-rent development site located in Wesley Chapel, Florida (Tampa MSA). With site work complete, the development is approved for...
Rent growth in spring thaw
Yardi Matrix reported that national average apartment rent increased $3 in March to $1,702 per month. This follows two months where Yardi Matrix had reported no rent growth. Year-over-year rent growth slide continues The national average...
Marcus & Millichap arrange the sale of a West Palm Beach boutique apartment community...
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Flamingo Park Apartments, a 16-unit boutique apartment community located in West...
MBA forecasts slowdown early in 2023
The Mortgage Bankers’ Association (MBA) recently released its Q4 2022 quarterly databook which contains updated forecasts for key economic metrics through 2025. It still predicts that an economic downturn will begin in Q1 2023. What’s...
Sunrise Management adds high-end Southern California multifamily communities to portfolio
Expanding its California portfolio, San Diego-based Sunrise Management has taken over day-to-day management of Arte West, a 228-unit, four-story luxury community in Santa Ana, Calif., and Arte, a high-end 182-unit apartment community on 4.4...
Multifamily job openings rise in February despite overall decline
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in February was 9.93 million, down 632,000 openings from last month’s figure...
Seattle’s Fair Chance Housing Ordinance largely upheld
A three-judge panel of the 9th Circuit Court of Appeals has struck down one provision of Seattle’s Fair Chance Housing Ordinance while leaving key parts of the law intact. The law was passed by...
Financing secured for Infinity at The Colony condominiums in Bonita Springs, Florida
JLL Capital Markets announced that it has closed the construction financing for Infinity at the Colony, a 96-unit, luxury, high-rise condominium development located within The Colony Golf & Bay Country Club in Bonita Springs,...
80-unit apartment portfolio sells for $20,000,000 in Vancouver, Washington
Kidder Mathews is pleased to announce the sale of an 80-unit apartment portfolio in Vancouver, Washington for $20,000,000. The portfolio comprises three buildings: Broadway (36 units), Hamilton (30 units), and Eliza (14 units). The...
Multifamily construction spending rises while single-family falls
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in February was up 1.4 percent month-over-month. Spending on single-family housing fell for the 10th month...
The Multifamily Group facilitates the sale of The Broadmoor Retirement Community in Tulsa, Oklahoma
The Multifamily Group (TMG), a commercial real estate brokerage firm based in Dallas, has announced this week the sale of The Broadmoor Retirement Community, a 124-unit, 55+ independent living community in Tulsa, Oklahoma. Casey Litsey...
Institutional Property Advisors closes Hollywood apartment asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Scout off Sunset, 136-unit apartment property in the Hollywood neighborhood of Los Angeles, California. “During our marketing and escrow period we...
Avanath Capital Management acquires 256-unit mixed-use, mixed-income multifamily community in Chicago for $119 million
Avanath Capital Management LLC, a multifamily owner and operator that primarily focuses on affordable and workforce housing, announces that it has acquired Lincoln Park Plaza, a 256-unit mixed-use, mixed-income multifamily community with ground-floor retail,...
