Fannie Mae lowers near-term GDP growth forecast
Fannie Mae’s July economic and housing forecast projects a flattening of the GDP growth curve in 2021, with lower growth in Q2 but higher growth in Q3 and Q4 than projected in earlier forecasts....
New multihousing community in Milwaukee sells for $53 million
JLL Capital Markets announced that it has closed the $53 million sale of Vim + Vigor, a new, 274-unit, mid-rise multihousing community in the Brewery District of Milwaukee, Wisconsin. JLL marketed the property on behalf...
Cushman & Wakefield arranges sale on behalf of Quintus Development and The Carlyle Group
Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Rey on Reynolds, a 286-unit apartment community located in Duluth, Georgia, a suburb northeast of Atlanta. Robert Stickel...
July apartment market conditions showed improvement across all metrics
Apartment market conditions showed continued improvement in the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for July 2021. For the first time since October 2015, the Market Tightness (96), Sales Volume...
Institutional Property Advisors closes luxury multifamily asset sale in Dallas
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Olympus at Ross, a luxury 368-unit multifamily complex in Dallas, Texas. “Olympus at Ross is a stabilized asset located in the...
Interra Realty brokers $5 million sale of 40-unit rental community in Chicago’s Rogers Park...
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $5.025 million sale of 7363-83 N. Winchester Ave., a two-building, 40-unit rental community in Chicago’s Rogers Park neighborhood. The price per...
Magma Equities acquires 359-unit multifamily community in Raleigh/Durham, NC for $42.4 million
Multifamily investment firm Magma Equities (Magma) in partnership with Viking Partners has acquired University Apartments, a 359-unit apartment community located in the Duke submarket of Durham, NC, in an off-market transaction for $42.4 million. Magma...
Fogelman Properties expands acquisition team with appointment of Samantha Lange, Manager of Acquisitions
Fogelman Properties (Fogelman), one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the appointment of Samantha Lange as Manager of Acquisitions. Lange will be based...
ABI Multifamily brokers North Central Phoenix 161-unit multifamily apartment community for $32 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $32,275,000 / $200,466 Per Unit / $304.68 Per SF sale of City 15 Apartments, a...
Berkadia arranges $52 million recapitalization for Neology Life’s Pier 19 Residences & Marina in...
Berkadia announces it has secured a $52 million bridge loan to refinance Pier 19 Residences & Marina, a 199-unit luxury apartment community along the Miami River in downtown Miami. Senior Managing Director Charles Foschini...
Cushman & Wakefield arranges sale on behalf of Alliance Residential Company and The Carlyle...
Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Broadstone Junction, a 290-unit apartment community located in Norcross, Georgia, a suburb northeast of Atlanta. Robert Stickel and Alex...
Multifamily housing construction strong in June
The Census Bureau released its monthly new residential construction report for June 2021. It reported that some multifamily housing construction results were down from recent highs, but they were still solid compared to historical...
$21.25M loan arranged for Six Points Apartments near Milwaukee
JLL Capital Markets announced that it has arranged $21.25 million in acquisition financing for Six Points Apartments, a 178-unit, market-rate multihousing community in downtown West Allis, Wisconsin. JLL worked on behalf of the borrower, Spaulding...
Surging rent growth reported for June
The latest rent report from Yardi Matrix shows accelerating rent growth for the country as-a-whole in June, with SFR rents outpacing those of multifamily. Rents up sharply again Yardi Matrix reported that the national average apartment...
Transwestern Investment Group sells 480-unit garden-style apartment community in Phoenix market
Transwestern Investment Group (TIG), along with its partner, Knightvest Capital, announce the sale of Paseo Park, a 35-building garden-style apartment community at 5205 W. Thunderbird Road in Glendale, Arizona. The multifamily asset comprises 480...
