Institutional Property Advisors brokers $91 million multifamily asset sale North Central Phoenix
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Trailside at Hermosa Pointe, a 336-unit multifamily asset in Phoenix, Arizona. The property traded for $91 million, or $270,833 per...
Avanath Capital Management acquires Ascent, a 168-unit multifamily community in Denver, Colorado for $58.1...
Avanath Capital Management, LLC, a private real estate investment manager, announces it has acquired Ascent, a 168-unit multifamily apartment community for $58.1 million. The property is located in the Denver suburb of Cherry Creek,...
Interra Realty brokers $10.3 million sale of Vintage Evanston, Ill. apartment building
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a 43-unit multifamily property in Evanston, Ill. The vintage courtyard building, located at 612 Sheridan Road, traded for...
Rent growth resumes in October
Yardi Matrix reported that national average apartment rent growth turned positive in October with rents increasing $3 from September’s revised level to $1,727 per month.
YoY rent growth rate slide continues
The national average asking apartment...
Housing affordability falls to more than 10-year low as rising interest rates take a...
Housing affordability fell to its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012 as rising mortgage rates, ongoing building material supply chain disruptions,...
Veleta Capital Partners provides $18 million in financing for acquisition of Dallas apartment complex
Veleta Capital Partners (VCP), a Los Angeles-based institutional quality small balance bridge platform, has provided $18 million in senior secured, floating-rate bridge financing for the acquisition and renovation of the 137-unit Maverick Oak Lawn...
Multifamily mortgage originations underperform in Q3
A report from the Mortgage Bankers’ Association (MBA) says that originations of multifamily mortgages in Q3 were down 16 percent on a year-over-year basis. Originations of all commercial mortgages as a single asset class...
$34.7 million financing arranged for Tacoma multihousing development
JLL Capital Markets announced that it has arranged the $34.8 million construction financing for Cornus House, a 199-unit, mid-rise multihousing development located in downtown Tacoma, Washington.
JLL represented the developer, Arboreal Investments, to secure the senior...
$26.3 million financing secured for New Jersey multihousing project
JLL Capital Markets announced that it has arranged $26.3 million in construction financing for The Somerset at Montgomery, a luxury, 115-unit multihousing development in Montgomery, New Jersey.
JLL represented the borrower, Country Classics, to secure...
Marcus & Millichap brokers Dallas multifamily asset sale
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Mountain Valley, a 312-unit apartment property in Dallas, Texas.
“Built in 1969,...
ESG hits U.S. legal speedbumps
ESG (environmental, social, governance) is now a significant part of the U.S. rental landscape in the form of lending programs, energy efficiency certifications and a growing number of diversity, equity and inclusion (DEI) departments...
The long senior moment
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, began Charles Dickens in A Tale of Two Cities. This...
Trepp looks at the state of CMBS loans in Q3
A new report from Trepp takes a look at the state of commercial mortgage-backed securities (CMBS) lending in Q3 2022. While the report covers lending for all commercial property types, this article focuses on...
Rising employment reported for apartment operations
The October Employment Situation Report from the Bureau of Labor Statistics stated that employment in apartment operations jobs rose while employment in residential construction jobs was nearly unchanged.
Economy continues to produce jobs
The Bureau of...
Berkadia arranges $93.6 million loan for Palm Beach County apartment communities
Berkadia announces it has secured a $93.6 million loan to refinance two multifamily communities located in Palm Beach County: Advenir at Banyan Lake and Advenir at La Costa, both vintage garden-style multifamily assets located...
