Haven Realty Capital, J.P. Morgan launch $415 million joint venture
Haven Realty Capital (Haven) and institutional investors advised by J.P. Morgan Global Alternatives have formed a programmatic joint venture to acquire and develop more than $1 billion in new build-to-rent (BTR) communities throughout the...
WinnCompanies acquires 76 affordable housing units in Passaic, New Jersey
WinnCompanies, an award-winning national developer and manager of apartment communities, announced it has acquired Chestnut Homes, a 76-unit affordable housing community within walking distance of downtown Passaic, New Jersey. Built in 1983, the townhouse-style community...
2023 GSE multifamily loan purchase caps set
The Federal Housing Finance Agency (FHFA) announced that the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $75 billion for each Enterprise, for a combined total of...
Sale of multihousing community in suburban San Diego closes
JLL Capital Markets announced that it has closed the sale and acquisition financing of Veranda La Mesa, a 406-unit, garden-style apartment community located in La Mesa, California. JLL represented the seller. JLL also worked on...
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...