The Mogharebi Group arranges $50 million sale of 237-unit multifamily community in Central California
The Mogharebi Group (TMG) has brokered the sale of Oak View Apartments, a 237-unit garden-style multifamily community in Visalia, Calif., for $50 million. The buyer of the fully occupied property is a Southern California-based...
New Jersey multihousing community secures $11 million financing
JLL Capital Markets announced that it has arranged $11 million in permanent financing for Rahway Plaza Apartments, a two-building, 288-unit high-rise apartment community located in downtown Rahway, New Jersey. JLL represented the borrower, Denholtz Properties,...
Senior housing construction activity slows
NIC Map Vision reports that senior housing construction starts slowed dramatically in Q3 in the face of rising interest rates and construction costs. However, results vary greatly by the market segment of the product...
Single-Family construction slows in post-Covid hot markets
The big jump in single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas has shown a marked decline over the past 12...
Rising employment reported for multifamily
The Employment Situation Report from the Bureau of Labor Statistics stated that employment in both residential construction and in apartment operations edged higher in November. Economy continues to add jobs The Bureau of Labor Statistics (BLS)...
ABI Multifamily brokers 59-unit Midtown apartment community for $21.5 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $21,538,462 / $365,059 per unit / $421.81 per square foot sale of PURE Midtown, a...
$99.5 million financing secured for Chicago trophy apartment tower acquisition
JLL Capital Markets announced that it has closed the $99.5 million financing of The Elle, a 496-unit, trophy, high-rise multihousing community in the South Loop submarket of Chicago, Illinois. JLL worked on behalf of the...
RADCO acquires Solis Reynolds Place in Atlanta; Multifamily property rebranded as Lyra by Radius
The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Solis Reynolds Place, a newly constructed 228-unit multifamily asset located in Duluth, Georgia, a northeast Atlanta suburb. The...
Multifamily construction spending steady as single-family falls
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in October was up 0.6 percent month-over-month. Spending on single-family fell for the 6th month in...
Institutional Property Advisors negotiates Tempe apartment property sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of La Serena, a 160-unit multifamily asset in Tempe, Arizona. “Located in South Tempe, where limited multifamily inventory and extreme barriers to...
Zillow’s hot housing takes for 2023
Midwestern markets will heat up, and more friends and family members will pool their money to buy homes together in 2023, as people look for new ways to overcome the housing affordability crisis. However,...
CoStar: multifamily property prices falling
CoStar reported that its value-weighted index of multifamily property prices was down 1.4 percent month-over-month in October, the fourth monthly decline in a row. However, this index was still up 10.5 percent, year-over-year. The value-weighted...
Rents continue slide in November
The latest rent report from Apartment List shows that the national average rent growth in November remained negative for the third consecutive month. Rents fell 1.0 percent month-over-month. Year-over-year rent growth remained positive, with...
Job openings trend lower in October
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings fell to 10.33 million in October. In addition, last month’s job openings...
Rent delinquencies nearly unchanged in Pulse Survey
The “Week 51” edition of the Census Bureau’s Pulse Survey shows that the portion of renters who are behind on their rent payments fell slightly to 13.7 percent, down from the 14.0 percent reported...
