U.S. needs 4.3 million more apartments by 2035 to address demand, deficit and affordability
Amidst demographic shifts and lingering pandemic impacts on the population and broader economy, the U.S. faces a pressing need to build 4.3 million new apartments by 2035, according to a new study commissioned by...
Sale of multihousing community in Westchester County, New York closes
JLL Capital Markets announced that it has closed the sale of Avalon Green, a 617-unit, value-add multihousing community located within Westchester County in Elmsford, New York.
JLL marketed the property on behalf of the seller,...
Haven Realty Capital and Apollo Global Management close on Las Vegas BTR Community
Haven Realty Capital (Haven), in partnership with funds managed by an affiliate of Apollo Global Management, Inc., has closed the first phase of a $22.8 million acquisition of a build-to-rent (BTR) townhome community now...
Cushman & Wakefield arranges sale of The Anatole Apartment Homes
Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Anatole Apartment Homes, a 208-unit multifamily community located in Daytona Beach at 1690 Dunn Ave.
Mike Donaldson and Nick...
Institutional Property Advisors closes boutique East Valley build-to-rent multifamily asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Dolce Villagio Lofts, a 37-unit multifamily asset in Tempe, Arizona. The $21.25 million sales price equates to $574,324 per unit.
“Dolce...
Marcus & Millichap closes 216-unit multifamily asset sale in Rockport, Texas
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Pearl Point, a 216-unit multifamily complex in Rockport, Texas.
“Best-in-class assets in...
$28.4 million in financing secured for Arizona multihousing community
JLL Capital Markets announced that it has arranged the $28.4 million financing for Villatree Apartments, a 150-unit, garden-style multihousing community in Tempe, Arizona.
JLL represented the borrower, Epic Investment Services, to secure the five-year, floating-rate...
$82.5 million sale of New Jersey multihousing community
JLL Capital Markets announced that it has closed the $82.5 million sale of The Mark Parsippany, a 212-unit, four-story, Class A, luxury apartment community in Parsippany, New Jersey.
JLL represented the seller, an affiliate of...
Stepp Commercial completes $5.5 million sale of 11-unit apartment asset in Santa Monica, California
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $5.5 million sale of an 11-unit apartment property located at 917 6th Street in Santa Monica, Calif. The property,...
Parkview Financial originates $19 million construction loan for 134-unit multifamily project with a ground...
Parkview Financial announced it has provided a $19 million leasehold construction loan to Ethos Development to build a seven-story, 134-unit multifamily project located at 1835 N Flint Avenue, Portland, Oregon.
Ethos purchased the 0.36-acre site...
Mixed-use Lenox Hill portfolio sells for $33.75 million
JLL Capital Markets announced that it has closed the $33.75 million trade of a three-building, mixed-use multihousing and commercial portfolio in Manhattan’s Lenox Hill neighborhood.
Located at 1026 Third Ave. and 1020-1024 Third Ave., the...
Unlocking a smart future
Smart technology is unlocking the door to a better experience for apartment renters, making management’s job easier and increasing the value of multifamily assets, say providers of smart apartment technology, the latest industry trend.
Companies...
Sale of multihousing community in Northern Virginia closes
JLL Capital Markets announced that it has closed the sale of Bell Fair Oaks, a 246-unit, value-add multihousing community in Fairfax, Virginia.
JLL marketed the property on behalf of the seller and procured the buyer...
Mesa West Capital funds $108 million loan for acquisition of Phoenix, Arizona multifamily development
Mesa West Capital has provided KB Investment and Development Company with $108 million in first mortgage debt for its acquisition a 328-unit multifamily property in Phoenix, Arizona.
The five-year, floating rate loan is secured by...
Multifamily property prices rise at torrid pace
The latest commercial property price report from MSCI (formerly Real Capital Analytics) said that multifamily property prices rose 23.7 percent year-over-year in June and that they rose 1.6 percent from the month before. Both...
