JLL arranges $28 million financing for suburban Minneapolis apartments
JLL Capital Markets announced that it has arranged $28 million in financing for The Cliffs at Minnetonka, a 456-unit garden-style apartment community in Minnetonka near Minneapolis, Minnesota. JLL worked on behalf of the borrower, The...
Block Real Estate secures $21 million equity for apartment development
JLL Capital Markets announced that it has arranged $21 million in joint venture equity for the development of The Residences at Galleria, a 322-unit, Class A, podium multihousing community in the suburban Kansas City...
Rate Desk Friday, June 19, 2020
June 19, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Representing your housing rental brand and living communities through your digital reflection. Rate Desk notes June 19, 2020 Indices down (up for...
Rate Desk Thursday, June 18, 2020
June 18, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Price compression for MF developers and incredibly low interest rates, the financing is right and it’s time to build. Rate Desk notes...
Webinar: How localized chatbots can maximize occupancy in and out of crisis
Are your properties prepared to deliver 24/7 customer care to attract and retain residents during this busy time? Join the webinar on June 24th at 1 pm CDT for discussing the one solution you can...
Rents continue to decline in May
Yardi Matrix released its May 2020 report on the multifamily rental housing market. The report shows that the COVID-19 induced softness in the market is continuing. Rent growth drops While the usual annual pattern is for...
Interra Realty facilitates $2.3 million multifamily sale in Chicago’s South Shore Neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $2.3 million sale of 6811 S. Paxton Ave., a 29-unit mid-rise apartment building in Chicago’s South Shore neighborhood. The price...
Rate Desk Wednesday, June 17, 2020
June 17, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Trapped equity in debt service reserves and MF designs of the future. Rate Desk notes June 17, 2020 Indices up Crude $37.77 ...
Multifamily housing construction up in May
The Census Bureau released its monthly new residential construction report for May 2020. It shows the start of a rebound in multifamily housing construction. Permits pick up The number of permits issued for buildings with 5...
Gebroe-Hammer Associates records $25.35 million sale of 99 multifamily units at Hamilton House in...
Gebroe-Hammer Associates has finalized yet another pandemic-era multifamily transaction with the $25.35M sale of Hamilton House in Weehawken, a 99-unit prominent fixture within the township’s highly desirable Town Center/Downtown District. The brokerage team of...
Rate Desk Tuesday, June 16, 2020
June 16, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. Missing amenities: Owner and renter frustrations with amenities during the shelter in place. Rate Desk notes June 16, 2020 Indices up Crude...
14-unit multifamily building trades for record price per SF during safer-at-home order
Transwestern Real Estate Services (TRS) announces it has brokered the sale of 453 S. Gramercy Place, a newly renovated, 14-unit multifamily building in the Koreatown submarket of Los Angeles. Managing Directors Josh Kaplan and...
HUD awards nearly $40 million in housing counseling grants
The U.S. Department of Housing and Urban Development (HUD) awarded nearly $40 million in housing counseling grants to help over one million individuals and families access HUD-approved housing counseling to help them avoid foreclosure...
Mid-June rent payments reported strong
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 89.0 percent of apartment households made a full or partial rent payment by June 13 in its survey of 11.4 million units of professionally...
Landlords sue to end state’s eviction ban
Two landlords filed a lawsuit challenging California courts’ refusal to hear eviction proceedings. In its response to the COVID-19 pandemic, the agency that oversees California’s courts declared that courts would not consider eviction cases...
