November new home sales up as interest rates fall back
While new home sales received a slight bounce in November from moderating mortgage rates, the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions. Sales of...
Avanath Capital Management expands executive leadership team
Avanath Capital Management, LLC, a private real estate investment manager, announces the expansion of its executive leadership team with the appointment of Carly Stevenson, a property management industry veteran, as Executive Vice President of...
Multifamily property prices lead decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices fell 1.1 percent in November from their level of the month before. This was the largest month-over-month decline...
Berkadia arranges sale of value-add, Class A garden-style multifamily community in Houston Metro
Berkadia announces it has arranged the sale of Edgewater Apartments, a 228-unit, Class A garden-style multifamily apartment community located in Lake Jackson, Texas, a highly livable suburb of Houston. Senior Managing Directors Chris Curry and...
Franklin Street arranges $10.8 million sale of value-add multifamily property in Tampa, Florida
Franklin Street has arranged the sale of French Quarter Apartments, a 57-unit, 50,585-square-foot multifamily community in Tampa, for $10.75 million, equating to $188,596 per unit. Franklin Street’s Tampa Multifamily Investment Sales Team of Avery Jordan,...
The Praedium Group acquires Versol in Bonita Springs, Fla.
The Praedium Group (Praedium), a national real estate investment firm, announced the acquisition of Versol, a 240-unit suburban multifamily property in Bonita Springs, Fla. located between the growing Naples and Fort Myers markets. Chris Hughes, Principal...
Multifamily construction starts continue to outpace completions
The Census Bureau’s new residential construction report for November stated that the number of multifamily construction permits issued was down from its recent very high levels but that starts and completions both rose for...
Fannie Mae lowers multifamily housing starts forecast
Fannie Mae’s December economic and housing forecasts predict a larger decline in multifamily housing starts over the next two years than in earlier forecasts. The single-family housing starts forecast was revised higher for 2023...
ABI Multifamily brokers 41-unit West Phoenix apartment community for $6,765,000
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $6,765,000 / $165,000 Per Unit / $327.38 Per SF sale of Venture on 19th, a...
Levin Johnston completes $27 million sale of upgraded 60-unit multifamily community in Fremont, California
Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S., specializing in wealth management through commercial real estate investments, has successfully directed the sale of Victoria Park, a...
Single-family production continues to sag, multifamily permits weakening
Single-family housing starts continued to fall in November, with the pace of construction down 32 percent since February when mortgage rates began to rise. The housing market continues to weaken because stubbornly high construction...
Stop Wall Street Landlords Act introduced
Three California Democrats have introduced Federal legislation intended to discourage corporate ownership of single-family rental housing by changing tax law to make such ownership unprofitable. The bill, designated House Resolution 9246, is sponsored by...
ECI Group announces sale of The Columns at Timothy Woods Apartments in Athens, Georgia
ECI Group (ECI) announces the sale of The Columns at Timothy Woods apartments at 2035 Timothy Road in Athens, Georgia to Fogelman Properties. The 204-unit, 1996-vintage community was acquired by ECI in April 2019....
Construction delays and high costs persist, but conditions may begin to improve
The December edition of the NMHC Quarterly Survey of Apartment Construction & Development Activity found small improvements in terms of the share of respondents experiencing construction delays and deals being repriced up, but conditions...
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group hires second Nashville broker, continues local expansion
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group announced it has hired Tyler Mayo as Managing Director to support the firm’s brokerage activities throughout Tennessee. Mayo joins Ian Anderson, who was hired as the Sunbelt Multifamily...
