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...
TruAmerica Multifamily acquires 156-home apartment community near Washington State capital for $54 million
TruAmerica Multifamily has acquired The Dakota, a 156-unit garden-style apartment community in Lacey, Wash., a suburb of Olympia for $54 million. The 15-year-old institutional quality asset brings the number of multifamily units in TruAmerica’s...
Multifamily jobs numbers continue to improve
The latest Employment Situation Report from the Bureau of Labor Statistics stated that employment in both categories of residential construction jobs and in one of two categories of apartment operations jobs we track rose...
Institutional Property Advisors brokers sale of newly reconstructed downtown San Diego building
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Studios 435, a 86-unit apartment asset in San Diego, California. The property sold for $23.25 million, or $270,349 per unit. “Originally...
Residential construction spending higher in April
The Census Bureau’s report on construction spending shows that residential construction spending in April was up 0.9 percent from the revised level of the month before. Residential construction spending was up 18.4 percent year-over-year. Single-family...
Institutional Property Advisors brokers $84 million attainable housing asset sale in suburban Southeast Phoenix
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Cabana Power, a newly built, 244-unit multifamily asset in Mesa, Arizona. The $84 million sales price represents $344,262 per unit. “The...
Stepp Commercial completes $5.3 million sale of a newly renovated, 13-unit apartment property in...
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $5.3 million sale of Casa 2055 Apartment Homes, a newly renovated, 13-unit multifamily property located at 2055 E. 3rd...
American Landmark acquires apartment community in Tennessee’s fastest-growing city
American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired The Harrison Apartments, a 278-unit apartment community located in Murfreesboro, Tenn. The property has been renamed “Scout Landing.” This...
SB Real Estate Partners acquires Azura Apartments in North Phoenix for $91 million
SB Real Estate Partners (SBREP) has acquired Azura Apartments, a 387-unit garden style multifamily community in Phoenix, Arizona for $91 million. The property will be rebranded as Portola North Phoenix. SBREP has been an active...
Link Senior Development, Roxborough Group acquire 301-unit Phoenix retirement community
Link Senior Development and The Roxborough Group, LLC announce the acquisition of Park Terrace Senior Living, an amenity rich, 301-unit independent living and assisted living community in Phoenix, Arizona. "Park Terrace is an exciting venture...
