Portland smart-home startup IOTAS sells to security giant ADT
Home security company ADT has purchased Portland startup IOTAS, whose technology adapts smart-home features for apartments buildings. IOTAS’ technology enables renters to control lights, thermostats, locks and other wireless features. Such automation is common in...
Interra Realty brokers $28 million multifamily sale on Chicago’s North Side
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $28 million off-market sale of 944-54 W. Grace St., an 80-unit rental community in Chicago’s Lakeview neighborhood, about a block...
Tower 16 Capital Partners announces the sale of Loramont on Thomas Apartments in Phoenix,...
Tower 16 Capital Partners has sold Loramont on Thomas Apartments, a 180-unit multifamily project in Phoenix, Arizona for $32.1 million. The property was purchased by Tower 16 in December 2019 for $11.7 Million in...
RXR secures $105 million from Rialto Capital Management to refinance Westchester apartment building
JLL Capital Markets announced that it has arranged $105 million in refinancing for RXR Realty’s 360 Huguenot, a 280-unit high-rise apartment building with ground-floor retail in downtown New Rochelle. JLL worked on behalf of RXR...
FCP and VaultCap Partners acquire Huntington Meadows Apartments in Austin, Texas
FCP and VaultCap Partners (VaultCap) announce the acquisition of Huntington Meadows apartments, a 200-unit multifamily property at 7000 Decker Lane in Austin, Texas. Huntington Meadows is the first acquisition in Austin for both FCP...
Institutional Property Advisors brokers multifamily asset sale in Mesa
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Talise, a 388-unit multifamily property in Mesa, Arizona. The asset traded for an undisclosed price. “Mesa’s favorable cost of living and...
Institutional Property Advisors closes $91 million North Phoenix multifamily asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Azura Apartments, a 387-unit apartment asset in Phoenix, Arizona. The property sold for $91 million, which equates to $235,142 per...
Institutional Property Advisors brokers two-property multifamily portfolio sale in North-Central Utah
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of a two-property, 282-unit multifamily portfolio in Clearfield, Utah. The properties are Oakstone Apartments, a 210-unit property built in 1998 and...
Next Wave sells 216-unit multifamily community in Las Vegas
Next Wave Investors, LLC (Next Wave) a private equity firm focused on value-add multifamily investments, recently sold Spanish Oaks, a 216-unit garden-style multifamily community in Las Vegas, Nevada for $50 million after acquiring it...
PCCP, LLC provides $22.7 million preferred equity position for the development of a 201-unit...
PCCP, LLC has provided a $22.7 million preferred equity position to Breslin Realty Group and Fields Grade Development for the ground-up development of The Langdon Apartments, a Class A, mid-rise, 201-unit, transit-oriented development located...
Marcus & Millichap brokers $9.8 million sale of 61-unit multifamily property in Chicago’s Hyde...
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced it has brokered the $9.8 million sale of 5120 S. Harper Ave., a 61-unit...
Institutional Property Advisors negotiates Tucson apartment asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Equinox on Prince, a 114-unit multifamily asset in Tucson, Arizona. The property sold for $21.1 million, which equates to $185,088...
New research shows regulations account for 40.6 percent of apartment development costs
Regulation imposed by all levels of government accounts for an average of 40.6 percent of multifamily development costs, according to new research released today by the National Association of Home Builders (NAHB) and the...
Solid rent growth reported by Yardi Matrix
Yardi Matrix reported that the national average apartment rent growth was $19 in May, bringing the average rent to $1,680 per month. Rent growth rate down from record levels The national average apartment rent was up...
Sale of student housing community near University of Illinois closes
JLL Capital Markets announced that it has closed the sale of and arranged acquisition financing for Illini Tower, a student housing community located near University of Illinois Urbana-Champaign. The JLL Capital Markets Investment Sales team...
