Multifamily CMBS delinquency rates move higher in June
Trepp reported that both delinquency rates and special servicing rates for multifamily CMBS loans rose in June. Delinquency rates and special servicing rates for the overall CMBS market also rose driven by problems with...
NAHB now accepting Pillars Awards applications
Since 1990, the National Association of Homebuilders (NAHB) has sponsored the Pillars of the Industry Awards to recognize excellence in apartment and condominium design and development, interior merchandising and superior property management and marketing. The Pillars...
Knighthead Funding provides $16 million loan for multifamily acquisition and conversion in Myrtle Beach,...
Knighthead Funding, LLC (Knighthead) has provided Eastman Companies with a $16 million first mortgage for the acquisition and conversion of a 437-bed student housing property into a 149-unit multifamily property in Myrtle Beach, South...
Tower Capital arranges $88.5 million in construction financing for another Empire Group BTR community...
Tower Capital, one of the nation’s leading structured finance firms in the commercial real estate lending space, arranged $88.5 million in construction financing for a Build-to-Rent (BTR) community in the Phoenix market. The financing...
June employment report sees lower jobs growth
The Employment Situation Report from the Bureau of Labor Statistics stated that residential construction employment rose compared to its revised level of the month before. However, apartment operations employment fell slightly.
Employment growth still positive
The...
MG Developer secures $67.5 million construction loan for The Village at Coral Gables
MG Developer, led by Alirio Torrealba, announces it has secured a $67.5 million construction loan from Churchill Real Estate to build the highly anticipated Village at Coral Gables development, with groundbreaking expected this July.
Exclusively...
Kidder Mathews arranges record-breaking sale of multifamily property in Sherman Oaks
An eight-unit apartment property at 4737 Kester Avenue in Sherman Oaks, California has sold for $3,600,000. This marks a record-high price-per-unit for a rent-controlled apartment building in the 91403 zip code. Kidder Mathews’ Michael...
Job openings fall in latest JOLT report
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in May was 9.82 million, down 496,000 openings from last month’s revised...
Rent growth rate flat in June
The latest rent report from Apartment List shows that the national average monthly rent growth in June was a positive 0.4 percent, down slightly from last month’s increase. Year-over-year rent growth was negative 0.5...
Cushman & Wakefield completes sale, Greystone finances North Charleston’s Retreat at Palm Pointe multifamily...
The joint venture team of Cushman & Wakefield and Greystone announced that they arranged the sale of and provided acquisition financing for, respectively, Retreat at Palm Pointe, a 112-unit apartment community located at 2561...
Newmark arranges sale of student housing asset serving Washington University in St. Louis, Missouri
Newmark announces it has completed the sale Everly on the Loop, a 209-unit, 428-bed student housing asset serving Washington University in St. Louis, Missouri. Newmark Vice Chairman and Head of Newmark’s Student Housing group Ryan Lang, Managing...
Berkadia arranges sale and financing of Aurora, Colorado Apartment Community to Trion Properties
Berkadia has arranged the sale and financing of Trailpoint on Highline, a 198-unit apartment community located in Aurora, Colorado. Managing Director Nick Steele and Director Nate Moyer of Berkadia Denver represented the seller, Castle...
Interra Realty brokers $7.54 million multifamily portfolio sale on Chicago’s South Side
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a two-building, 79-unit multifamily portfolio in Chicago. The properties, located in the South Shore neighborhood, sold for $7.54...
Mesa West Capital funds $71.5 million loan to refinance suburban Charleston, SC multifamily community
Mesa West Capital has provided Atlanta-based real estate investment firm Audubon with a $71.5 million first mortgage, floating-rate loan secured by The Cooper, a 344-unit multifamily community in Mount Pleasant, South Carolina, a prominent...
BH Properties plans billion dollar investment in affordable housing
BH Properties (BH) has launched a new investment initiative into affordable housing with a goal of ultimately building a $1 billion portfolio of assets. The new initiative will be led by veteran affordable housing...
