$106 million sale of multihousing development closes
JLL Capital Markets announced that it has closed the $106 million acquisition of and the $62 million financing for Abberly Riverwalk (formerly known as a Alta Riverwalk), a 304-unit, three-story, apartment community in Nashville,...
Census reports on rental vacancies in Q4
The Census Bureau released its quarterly report on home ownership and occupancy for Q4 2022. It stated that the rental housing vacancy rate was 5.8 percent, down from a level of 6.0 percent in...
Kiser Group sells a 94-unit multifamily property in Lakeview
Kiser Group directors Andy Friedman and Jake Parker brokered a condominium deconversion sale at 3825 N Pine Grove, located in the Lakeview neighborhood of Chicago. The 3825 N Pine Grove Condominium Association received $18,300,000 in this...
Marcus & Millichap brokers student housing asset sale in Oregon
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Ducks Village, a 230-unit, 650-bed student housing asset in Eugene, Oregon. “This...
Boosting housing production is best way to ease the affordability crisis
The National Association of Home Builders (NAHB) commended Senate Banking Committee Chairman Sherrod Brown (D-Ohio), Ranking Member Tim Scott (R-S.C.) and their fellow committee members for making housing the focus of the panel’s first...
Housing affordability hits record low but turning point lies ahead
Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability posted three consecutive quarterly...
Rent growth flatlines in January
Yardi Matrix reported that national average apartment rent growth stalled in January with rents remaining unchanged from December’s revised level at $1,701 per month. However, January's preliminary rent figure is down $14 from the...
Newly constructed multihousing community in suburban Kansas City secures $59.75 million in refinancing
JLL Capital Markets announced that it has closed the $59.75 million construction takeout refinancing for The Residences at Galleria, a newly constructed, Class-A, 322-unit, luxury apartment community in the Kansas City suburb of Overland...
Multifamily construction spending rises in December
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in December was up 3.2 percent month-over-month. Spending on single-family fell for the 8th month in...
$31.16 million financing secured for luxury Colorado multihousing community
JLL Capital Markets announced that it has arranged the $31.16 million refinancing for Epoque Golden, a 120-unit, Class A, four-story, luxury multihousing community in Golden, Colorado. JLL worked on behalf of the borrower team, including...
Final WOTUS rule a blow to housing affordability, NAHB tells Congress
With the nation in the midst of a housing affordability crisis and an economy confronting high inflation, the National Association of Home Builders (NAHB) told Congress that the Biden administration’s decision to push through...
Berkadia arranges $26 million refinancing for two multifamily communities outside of Tampa
Berkadia announces it has arranged the refinancing of two properties in Florida: Gables at Honore in Sarasota, Fla., and Lodge at Woodlake in Lakeland, Fla. Senior Managing Director Mitch Sinberg, Managing Director Matt Robbins...
JLL Capital Markets welcomes Luc Whitlock to its multihousing investment sales and advisory team
JLL Capital Markets announced that it has welcomed Director Luc Whitlock to its multi-housing investment sales and advisory team. Whitlock is based out of the Los Angeles office and will concentrate on middle-market multihousing sales throughout...
JLL Capital Markets welcomes Nick Brown to its Nashville Office
JLL Capital Markets announced that it has welcomed Director Nick Brown to the Nashville office to build upon the multihousing investment sales efforts within the Southeast region. Brown joins John Weber, Bill Shippen and...
Cushman & Wakefield arranges sale of The Ridges at Bentonville
Cushman & Wakefield announced that the commercial real estate services firm arranged the sale of The Ridges at Bentonville, a 96-unit apartment community that was built in 2006 and is located in Bentonville, Arkansas. Cushman...
