$8 million sale of multihousing community in Duluth, Minnesota closes
JLL Capital Markets announced that it has closed the $8 million sale of Highland Chateau, a 60-unit, 1972-built multihousing community located in the high-demand city of Duluth, Minnesota.
The buyer, PLB Highland Chateau, LLC, was...
Single-family starts post solid gain in May
Limited existing inventory combined with solid demand and improving supply chains helped push single-family starts to an 11-month high in May.
Overall housing starts in May increased 21.7 percent to a seasonally adjusted annual rate...
CBRE arranges sale of 30-unit multifamily community in Westminster, California
CBRE announced the sale of a 30-unit multifamily community in Westminster, Calif., to a private investor for $10 million.
CBRE’s Executive Vice President Dan Blackwell and Senior Associate Andrew Boukather represented the buyer and seller...
Builder confidence moves into positive territory in June
Solid demand, a lack of existing inventory and improving supply chain efficiency helped shift builder confidence into positive territory for the first time in 11 months.
Builder confidence in the market for newly built single-family...
GFI Realty trades Brooklyn 23-unit multifamily building for $3.250 million
GFI Realty Services, LLC announced the $3.250-million sale of 1113 Avenue O, a multifamily building comprised of 23 units located in the Midwood section of Brooklyn. GFI Realty Senior Managing Director Matthew Sparks, represented the seller...
Fed signals higher interest rates ahead
The Federal Open Market Committee (FOMC) met this week and decided to keep interest rates unchanged. However, the Federal Reserve’s updated forecasts for key economic metrics indicated that higher interest rates may be coming...
Marcus & Millichap arranges $6.4 million refinancing for multifamily property in Imperial Beach, California
Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged a $6,400,000 loan for the refinancing of Rancho Coronado Condominiums, a multifamily property located at 740-798...
Institutional Property Advisors brokers Eastside Seattle multifamily sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of The Lakes Apartments, a 265-unit multifamily property in Bellevue, Washington. The sale was brokered by IPA’s Giovanni Napoli, Philip Assouad,...
Construction materials prices trend lower in May
The May producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices fell 0.1 percent month-over-month, seasonally adjusted. The index of components and materials for construction was...
Best-in-class multihousing community in Washington, D.C. sells
JLL Capital Markets announced that it closed on the sale of The Shay, a 245-unit, best-in-class multihousing community located in the highly sought-after Shaw neighborhood of Washington, D.C.
JLL represented the seller in the transaction.
Built...
Financing secured for University of Tennessee student housing community
JLL Capital Markets announced that it has arranged the acquisition financing for 303 Flats, a Class A, 138-unit / 431-bed, mid-rise student housing community located at the University of Tennessee in Knoxville.
JLL represented the...
The Mogharebi Group secures $25.2 million for sale of 97-unit apartment community in Modesto,...
The Mogharebi Group (TMG) has arranged the $25.2 million sale of Trails at 2112 Apartments, a turnkey 97-unit multifamily community in the Central Valley city of Modesto, CA. Executive Vice President Otto Ozen and...
JLL Capital Markets welcomes Bill Baumann to its multihousing team
JLL Capital Markets announced that Bill Baumann has joined the firm’s multihousing team as a Managing Director in the Chicago office. He will report to Senior Managing Directors Danny Kaufman and Jaime Fink, who co-lead...
Multifamily CMBS delinquencies edge lower in May
Trepp reported that both delinquency rates and special servicing rates for multifamily CMBS loans declined slightly in May. Delinquency rates and special servicing rates for the overall CMBS market rose driven by problems with...
Marcus & Millichap arranges the sale of a 27-unit North Miami Beach multifamily portfolio
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 27-unit apartment portfolio located in North Miami Beach, Florida. The assets sold for $4,850,000.
“The sale...
