ABI Multifamily brokers 199-unit Southeast Tucson multifamily apartment community for $37 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $37,000,000 / $185,930 Per Unit / $205.20 Per SF sale of Commons on Stella Apartment...
Residential construction spending down in July
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in July was down 1.5 percent from the revised (+1.2 percent) level of the month before. Residential...
Blackstone suspends 38 metros in downturn
Home Partners of America (HPA), a single-family rental (SFR) business, will stop all property acquisitions in Boise, Reno, Spokane, Fresno, Memphis and 33 other geographic areas due to the market downturn in the single-family...
CBRE looks at cap rate trends
CBRE released its semiannual cap rate survey for H1 2022. It found that investors expect cap rates to expand in light of rising interest rates. Survey participants also expect lending standards to tighten in...
Rent growth rate trending lower
The latest rent report from Apartment List shows that the national average rent growth rate fell in August. Rent growth was 0.5 percent month-over-month and 10.0 percent year-over-year. These rates are down from the...
Value-add multihousing community in Wisconsin sells for $40.8 million
JLL Capital Markets announced that it has closed the $40.8 million sale and arranged the $29.81 million acquisition financing for Stonewood Village, a 272-home, value-add, garden-style multihousing community in Madison, Wisconsin.
JLL represented the seller, Stonewood...
Institutional Property Advisors brokers Inland Empire multifamily asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Stonegate Apartments, a 160-unit multifamily asset in Riverside, California.
“With average rents in the Riverside submarket projected to grow 7.9 percent...
Berkadia arranges $55.5 million of equity and secures programmatic joint venture partner for development...
Berkadia announces it has sourced both a joint venture partner and a preferred equity provider for developer Moderne to build two new multifamily communities in Phoenix totaling 358 units: The Governor and Moderne Arrowhead.
Cody...
JLL arranges sale of prime residential development site west of Brickell
JLL Capital Markets announced that it has closed the sale of CoralGrove Brickell, a 0.53-acre, residential development site planned for 85 units, located between Brickell and Coral Gables in Miami, Florida.
JLL marketed the property...
Trion Properties repositions and recapitalizes two multifamily communities totaling 373 units in Greater Portland,...
Trion Properties, a multifamily investment sponsor and private equity real estate firm based in West Hollywood, California and Miami, Florida, has recapitalized a multifamily portfolio in the greater metropolitan area of Portland, Oregon, in...
Job openings rebound in July
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings rose in July from last month’s level. This is on top of...
$200 million sale of Westchester County multihousing community closes
JLL Capital Markets announced that it has closed the $200 million sale of Halstead Station, a 24-story, 408-unit, luxury, high-rise multihousing community located at the Metro North train station in New Rochelle, Westchester County,...
Sale of Kennesaw State University student housing community closes
JLL Capital Markets announced that it has closed the sale of 14 SixtyFive, a 52-unit / 241-bed, brand-new student housing community in Kennesaw, Georgia near Kennesaw State University.
JLL worked on behalf of the seller,...
Levin Johnston completes sale of multifamily portfolio in San Mateo County, California for $11.5...
Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S., specializing in wealth management through commercial real estate investments, has successfully completed the following transactions: An 8-unit multifamily...
Mesa West Capital funds $49.2 million loan for recapitalization of Palm Beach County multifamily...
Mesa West Capital has provided a joint venture of ESG Kullen and Angelo Gordon with $49.24 million in first mortgage debt for the recapitalization of a 219-unit multifamily property in Palm Beach County, Florida.
The...
