Thompson Thrift sells The Grove Apartment Community in Grand Rapids
Thompson Thrift, a full-service nationally recognized real estate company, announced the sale of The Grove, a 320-unit Class A multifamily community in Grand Rapids. A private real estate investment firm purchased the community for...
NMHC and NAA urge Congress to deploy tax policy to create more affordable housing...
Tax policy is a critical tool that can be used to address the nation’s housing affordability crisis. National Multifamily Housing Council (NMHC) President Sharon Wilson Géno delivered that message to the Senate Finance Committee...
Marcus & Millichap brokers the sale of a 30-unit Coral Springs apartment building for...
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Fairway Views, a five-story, 30-unit apartment complex in Coral Springs, Florida....
Weather insurance rates on the rise
Yardi Matrix has released a research bulletin describing changes coming to the weather damage insurance market, and to insurance rates, for commercial property in response to recent storms. Where the damages are The report notes that...
Single-family market share continues to shift from large population centers
While nationwide single-family housing starts have slowed in the past year, the largest drop on a percentage basis is occurring in the most dense counties, where housing costs are highest. Meanwhile, multifamily growth was...
Capital Square acquires build-for-rent townhome community near Raleigh for DST offering
Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Ashford Townes, a 74-unit newly constructed build-for-rent townhome community in...
$10.5 million refinancing secured for Los Angeles affordable housing development
JLL Capital Markets announced that it has arranged $10.5 million in construction takeout refinancing for Park Place at Jordan Downs, an 80-unit affordable housing development in Southeast Los Angeles, California. JLL represented the borrower, BRIDGE...
Looming multifamily oversupply expected to be short-lived
While the delivery of a near-record 716,000 new multifamily housing units in the U.S. over the next two years will create a short-term oversupply, the new supply is needed to keep long-term fundamentals healthy...
Rent delinquencies edge higher in latest Pulse Survey
The “Week 54” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments rose to 14.2 percent, up from the 12.6 percent reported in...
CBRE arranges $7.8 million sale of 204-unit development site in Farmington, Connecticut
Representatives of CBRE, led by Jeff Dunne, Simon Butler, Biria St. John, Eric Apfel, Stuart MacKenzie, John McLaughlin, and Brian Bowler announced the $7.8 million sale of a 204-unit multifamily development site in Farmington,...
Residential construction spending slows despite multifamily
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in January was up 0.4 percent month-over-month. Spending on single-family fell for the 9th month in...
Multifamily property prices fall as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 3.7 percent year-over-year in January 2023. This index was down 1.3 percent month-over-month, the seventh monthly decline in a row. The value-weighted index of...
Fannie Mae partners with multifamily industry to launch 2023 Multifamily Energy and Water Survey
Fannie Mae announced that it has launched the 2023 Multifamily Energy and Water Survey, a national effort to collect and analyze whole property energy and water consumption and costs from 2022, together with property-specific...
Sale of age-restricted community in Milwaukee closes
JLL Capital Markets announced that it has closed the sale of and acquisition financing for the Oaks of Shorewood, a 101-unit luxury, age-restricted (55+) multihousing community in Shorewood, Wisconsin. Weidner Apartment Homes acquired the property....
Rent growth losing streak ends in February
The latest rent report from Apartment List shows that the national average monthly rent growth in February was a positive 0.3 percent, breaking a string of 5 monthly declines. Year-over-year rent growth was 3.0...
