Construction employment higher in January
The Employment Situation Report from the Bureau of Labor Statistics stated that both residential construction employment and apartment operations employment edged higher in the latest month. Note that this report incorporates revisions to population estimates...
Job openings rise in December
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in December was 11.01 million, up from the preliminary figure reported last...
Champion Real Estate Company refinances Victory on Portland student housing asset near University of...
Despite a challenging capital markets climate, Champion Real Estate Company (Champion), announced that it has refinanced Victory on Portland, a 55 unit/139-bed student housing property located at 2353 Portland Street in Los Angeles California...
2023 Builders’ Show draws largest attendance in more than 10 years
Nearly 70,000 home building professionals from around the globe filled the exhibit halls of the Las Vegas Convention Center as the National Association of Home Builders (NAHB) hosted the NAHB International Builders’ Show (IBS),...
Marcus & Millichap brokers $2.35 million apartment sale in Hattiesburg
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Campus Cottages, a 44-unit apartment community located in Hattiesburg, Mississippi. The...
Interra Realty brokers $5.2 million sale of vintage apartment building in Chicago’s Buena Park Neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a 42-unit multifamily property in Chicago’s Uptown neighborhood. The building sold for $5.2 million, equating to $123,809 per...
NMHC names Sharon Wilson Géno President
The National Multifamily Housing Council (NMHC) Board of Directors named Sharon Wilson Géno as President during its 2023 Annual Meeting. Wilson Géno has been serving as President-Elect since September. She takes the helm from...
$2.52 million financing secured for Wyoming affordable housing community
JLL Capital Markets announced that it has arranged the $2.52 million acquisition financing for Autumn Ridge, a 48-unit, garden-style affordable housing community located in Laramie, Wyoming. JLL worked on behalf of the borrower, Graystoke Capital...
TCC/HSR hires SVP for multifamily development in New York metro market
The Northeast Metro office of Trammell Crow Company (TCC), a global commercial real estate developer, and its residential subsidiary, High Street Residential (HSR), have hired Michael Adamo as Senior Vice President. In his new...
Avanti Residential and Trinity Investors partner on 184-unit apartment complex in Metro Denver
Avanti Residential has partnered with Trinity Investors in the $45 million acquisition and recapitalization of Sunset Peak Apartment Homes, a 184-unit multifamily community located north of downtown Denver in Thornton, Colorado. The project is unique...
Multifamily housing market will weaken in 2023 while remodeling market remains solid
Multifamily starts are predicted to fall in 2023, following an unsustainable high level of production last year, according to the National Association of Home Builders (NAHB). Meanwhile, the remodeling sector remains on solid ground...
A housing downturn in 2023 followed by a recovery in 2024
The housing recession that began in 2022 will bleed into 2023 as elevated inflation and mortgage rates, coupled with stubbornly high building material construction costs, continue to take a toll on the housing industry...
Multifamily property price rises stall
CoStar reported that its value-weighted index of multifamily property prices increased only 1.0 percent year-over-year in December 2022. The index was down 1.4 percent month-over-month, the fifth monthly decline in a row. The value-weighted index...
JVM Realty Corp. acquires luxury apartment community in Chicago’s Western Suburbs
JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced it has acquired Courthouse Square, a 149-unit Class A apartment community 25 miles west of Chicago in the...
NAHB Pillars of the Industry finalists 2022
As part of its mission to promote excellence in multifamily home building, the National Association of Home Builders (NAHB) has sponsored the Pillars of the Industry awards for more than 20 years. These awards...
