$94.3 million financing arranged for San Francisco-area multihousing development
JLL Capital Markets announced that it has arranged $94.3 million in construction financing for a 189-unit, four-story, Class A multihousing development located in downtown Pleasant Hill, California.
JLL worked on behalf of the borrower, Gemdale...
Berkadia secures $16.39 million in equity for encore enterprises to develop Orlando apartments
Berkadia announces it has sourced a capital partner for Dallas-based Encore Multifamily, a division of Encore Enterprises, to develop its second apartment community in Orlando. The “Encore Narcoossee” community will be a three-story, 249-unit...
Higher interest rates begin to impact multifamily
Apartment sales volume fell while both equity and debt financing became more costly, according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for July 2022. However, demand in most markets...
Cushman & Wakefield arranges $91 million sale of The Monroe
Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Monroe, a 217-unit multifamily property in the Brookwood neighborhood of Atlanta. The final sale price was $91 million,...
Fannie Mae sees slower economic growth ahead
Fannie Mae’s July economic and housing forecasts predict negative GDP growth in Q2 2022 and a recession in early 2023. The slowdown in economic growth is also expected to be felt in housing construction...
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...
Pulse Survey shows slow response to rental assistance requests
The “Week 47” edition of the Census Bureau’s Pulse Survey shows that about one in seven renters are behind on their rent payments. This is roughly the same portion who were behind when we...
Berkadia arranges sale of luxury apartment community in Houston, Texas
Berkadia announces it has arranged the sale of Westchase Forest, a 400-unit luxury apartment community in Houston, Texas. Managing Directors Chris Young and Joey Rippel, Director Kyle Whitney, Managing Director Jeffrey Skipworth, and Senior...
DB Capital acquires 228-unit apartment community in San Antonio
Multifamily investment firm DB Capital Management (DB Capital) has partnered with Sabal Financial Group to acquire Villas of Henderson Pass, a 228-unit multifamily community in San Antonio, Texas. The property, which was 98 percent...
Financing secured for Massachusetts multihousing development
JLL Capital Markets announced that it has arranged the construction financing for Center & Stone, a 201-unit, two-building multihousing project with 9,500 square feet of retail space and 10,500 net square feet of amenity...
Cushman & Wakefield arranges $42 million sale of Highland Lakes
Cushman & Wakefield announced that the commercial real estate services firm has arranged the $42 million sale of Highland Lakes, a 224-unit multifamily property located in the Prattville submarket northwest of Montgomery, Alabama.
Craig Hey and...
Multifamily housing construction looking strong heading into summer
The Census Bureau’s new residential construction report for June showed multifamily permits and starts both recovering from last month’s declines. Unit completions fell during the month but were up compared to 2019.
Multifamily housing permit...
Institutional Property Advisors brokers Mosaic Dallas sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of Mosaic Dallas, a two-tower multifamily high-rise with 440 apartments and 8,766 square feet of ground-floor retail in Downtown Dallas, Texas.
“Constructed...
ABI Multifamily brokers 96-unit North Central Phoenix multifamily apartment community for $25.55 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $25,550,000 / $266,146 Per Unit / $256.09 Per SF sale of Rise Melrose Apartments, a...
Marcus & Millichap completes Montgomery multifamily asset sale
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Broadstreet at Eastchase, a 276-unit multifamily asset in Montgomery, Alabama. The...
