Census reports uptick in rental vacancy rates
The Census Bureau released its quarterly report on home ownership and occupancy for Q1 2022. It showed that the rental housing vacancy rate was 5.8 percent, up from a level of 5.6 percent in...
NOI is growing, but slowly
A new report from Trepp seeks to measure the growth in net operating income (NOI) from 2020 to 2021. It did this by analyzing multifamily properties with loans issued by Freddie Mac for which...
$104.93 million financed for Long Island multihousing community
JLL Capital Markets announced that it has closed the $104.93 million financing of The Wel, a 260-unit, newly constructed, mid-rise multihousing community located in Lindenhurst, New York along the South Shore of Long Island.
JLL represented...
ZMR Capital acquires fourth multifamily property in Tampa MSA
ZMR Capital has acquired in an off-market transaction Preserve at Riverwalk, a 300-unit multifamily property located in Bradenton, Florida.
Built in 2018, the property is located near the Bradenton Riverwalk, which consists of 2.5 miles...
Housing industry warns Biden on affordability
More than 10,000 members of the National Association of Home Builders (NAHB) sent a letter to President Biden calling on the White House to take immediate action as the growing housing affordability crisis is...
Tucson multifamily asset sale closed by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Canyon Heights, a 196-unit multifamily property in Tucson, Arizona. The property traded for $33 million, or $168,367 per unit.
“Demand for...
$12.6 million in construction financing secured for San Diego multihousing project
JLL Capital Markets announced that it secured $12.6 million in construction financing for a multihousing development located in the Golden Hill neighborhood in San Diego, California.
JLL worked on behalf of the borrower, Darnell Capital...
Institutional Property Advisors facilitates Orlando luxury rental complex sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of NORA, a six-story, 246-unit multifamily building with 9,263 square feet of ground floor retail in Downtown Orlando’s North Quarter district.
“With...
Magma Equities continues to expand its holdings in North Carolina with $23.7 million acquisition...
Magma Equities (Magma) in joint venture with Prudent Growth Partners (Prudent Growth) has acquired Keystone Apartments (Keystone), a 202-unit multifamily community in Fayetteville NC, in an off-market transaction for $23.675 million.
Magma is one of...
Declining affordability conditions put a damper on new home sales
Worsening affordability conditions stemming from growing supply chain disruptions and rising mortgage rates pushed new home sales lower in March.
Sales of newly built, single-family homes in March fell 8.6 percent to a 763,000 seasonally...
ABI Multifamily brokers 16-unit North Central Phoenix multifamily apartment community for $5 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $5,000,000 / $312,500 per unit / $313.91 per square foot sale of Villa D'Oro Apartments,...
Are multifamily property price rises cresting?
A new report from Real Capital Analytics (RCA) said that multifamily property prices rose 22.4 percent year-over-year in March and that they rose 1.1 percent from the month before. The annual rate of increase...
Mesa West Capital originates $85 million in first mortgage debt to finance the acquisition...
Mesa West Capital has provided Minneapolis-based multifamily investment firm Bader Diamond Funds (BDF) with $85 million in first mortgage debt for the acquisition of Hampshire Hill, a 534-unit community in the Minneapolis suburb of...
Stella Pappas joins TruAmerica Multifamily as Senior Managing Director and Head of Investor Relations
Stella Pappas has joined TruAmerica Multifamily as Senior Managing Director and Head of Investor Relations, announced Noah Hochman, Co-Chief Investment Officer and Head of Capital Markets
Pappas, with nearly two decades of real estate investment...
Rent delinquencies fall in latest Pulse Survey
The “Week 44” edition of the Census Bureau’s Pulse Survey has been released. It shows that the portion of renters who are behind on their rent payments dropped slightly since we last reported on...
