Construction materials prices higher despite lumber price drop
The Bureau of Labor Statistics (BLS) released its producer price index report for June 2022. It stated that construction materials prices were up 0.3 percent in the month, seasonally adjusted. The index was 15.1...
Berkadia arranges for Rilea Group a $21 million refinancing of garden-style apartment community in...
Berkadia announces it has arranged the refinancing of Vista Verde at Deerwood, a 208-unit garden-style apartment community in the Kendall submarket of Miami. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Senior...
High Street Residential announces 152-unit multifamily community near St. Louis
High Street Residential, the residential subsidiary of Trammell Crow Company, announced plans for the firm’s first multifamily project in the Greater St. Louis area. Located at 416 N. Kirkwood Road in Kirkwood, MO, The...
Sponsored: 6 must-ask questions for any managed WiFi provider
Selecting the right partner is key to a great managed WiFi solution for your MDU property and residents. Set your community up for success by asking each potential partner these questions. Will you design...
Westside Capital Group acquires Highrise Residential Tower in Atlanta’s Buckhead neighborhood for $136 million
Westside Capital Group, a real estate investment holding firm based in Miami, announced the acquisition of The Lofts at Twenty25, a landmark, 16-story residential tower located in Atlanta, Ga. Westside acquired the property for...
Ian Anderson joins Cushman & Wakefield’s Sunbelt Multifamily Advisory Group
Cushman & Wakefield announced that the commercial real estate services firm has hired Ian Anderson to join the Sunbelt Multifamily Advisory Group where he will focus on multifamily investment sales in the Nashville and Eastern,...
$31.9M sale of newly constructed multihousing community in New Jersey closes
JLL Capital Markets announced that it has closed the $31.9 million sale of Solaris Lofts, a 72-unit, newly constructed, boutique multihousing community located within the Bergen-Lafayette neighborhood in Jersey City, New Jersey. JLL marketed the...
FCP announces $25 million acquisition of Modera Academical Village multifamily development site supporting 793...
FCP and joint venture partner Mill Creek Residential Trust (Mill Creek) announce the $25 million acquisition of the Modera Academical Village development site within the Academical Village master plan and adjacent to Nova Southeastern University...
Inflation puts multifamily wages under pressure
The wage data the Bureau of Labor Statistics (BLS) released along with its employment situation report show that hourly wage growth for three categories of employees of interest to multifamily owners and operators has...
MBA looks ahead
The Mortgage Bankers’ Association (MBA) recently released its Q1 2022 quarterly databook. It contains some data that they had previously released but it also includes economic forecasts for key metrics through 2024. Something old The information...
Newmark announces $56 million multifamily sale in Murfreesboro, Tennessee
Newmark announces the $56 million sale of Campus Crossings, a 252-unit multifamily community in Murfreesboro, Tennessee. Newmark Managing Directors Vincent Lefler and Tarek El Gammal represented the seller, ApexOne Investment Partners (ApexOne), a real...
Gebroe-Hammer Associates arranges sale of Ridgewood Commons Apartments in South Orange, New Jersey
For the fourth time since 1999, Gebroe-Hammer Associates has arranged the sale of Ridgewood Commons in South Orange, N.J., a 66-unit five-story multifamily asset located at 10 N. Ridgewood Road in the township. The...
Magma Equities purchases 111-unit multifamily asset in Charlotte, NC metro for $17.75 million
Magma Equities (Magma) in joint venture with Prudent Growth Partners (Prudent Growth) has acquired The Oaks Apartment Homes (The Oaks), a 111-unit garden-style multifamily community in the Charlotte metro submarket of Lincolnton, NC, in...
Franklin Street arranges $11.5 million sale of 57-unit multifamily property in North Miami
Franklin Street has arranged the sale of Northview Terrace, a 57-unit, 41,400-rentable-square-foot multifamily property in North Miami, Florida, for $11.5 million, or $201,754 per unit. Franklin Street’s South Florida Multifamily Investment Sales Team of Ryan...
Mixed report on multifamily jobs in June
The latest Employment Situation Report from the Bureau of Labor Statistics stated that employment in apartment operations jobs grew during the month while residential construction jobs declined. Employment up, participation down The Bureau of Labor Statistics...
