Central Phoenix apartment complex sale brokered by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Cabana on 12th, a 252-unit multifamily asset in Phoenix, Arizona. The property sold for $54.5 million, which represents $216,270 per...
Northern California multifamily sale completed by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Mira Vista Hills, a 280-unit apartment community in Antioch, California. IPA’s Salvatore Saglimbeni, Stanford Jones, Philip Saglimbeni, and Alex Tartaglia...
Stepp Commercial completes $2.32 million sale of apartment property in Coveted Long Beach 4th...
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.32 million sale of an 8-unit apartment property located at 3011 E. 4th Street in the heart of the...
Census reports occupancy shifts since pandemic
The Census Bureau released its quarterly report on home ownership and occupancy. It showed that the rental housing vacancy rate rose from 6.6 percent to 6.8 percent over the past year even as the...
Berkadia arranges sale and financing of Fort Lauderdale Apartments
Berkadia announces it has arranged the sale and financing of Green Tree Apartments, a value-add apartment community with 296 units located in Fort Lauderdale, Fla. The property traded for $58.5 million, representing $197,635 per...
Institutional Property Advisors brokered four Class A multifamily asset sales in San Antonio for...
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of four multifamily properties totaling 1,267 units in San Antonio, Texas in the first quarter of 2021. The assets sold for...
Skyrocketing lumber prices add nearly $36,000 to new home prices
Soaring lumber prices that have tripled over the past 12 months have caused the price of an average new single-family home to increase by $35,872, according to new analysis by the National Association of Home Builders (NAHB)....
ABI Multifamily brokers 109-unit condominium property for $27 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $27,000,000 / $247,706 Per Unit / $208.38 Per SF sale of Santana Ridge Luxury Rentals,...
Songy Highroads grows multifamily platform with purchase of Metro Atlanta’s Biscayne Apartments
Songy Highroads (SHR), an Atlanta-based commercial real estate investment and development firm, continues its multifamily expansion in the Sun Belt with its acquisition of Biscayne Apartments. The 370-unit, 26-acre property is located in College...
Bill Gribbin has joined the firm as a Director focused on multihousing investment sales...
JLL Capital Markets announced that Bill Gribbin has joined the firm as a Director in the company’s Washington, D.C. office. Bill joins the existing team led by Walter Coker, Brian Crivella and Robert Jenkins...
WPC hires Bobby Akines as VP, Development
Robert “Bobby” Akines has joined Washington Property Company (WPC) of Bethesda, MD as Vice President of Development, overseeing several of the company’s new and planned residential and mixed-use projects. He will team up with...
Cushman & Wakefield arranges $49.5 million sale on behalf of BSR Real Estate Investment...
Cushman & Wakefield announced that the commercial real estate services firm has arranged the $49.5 million sale of Mountain Ranch, a 360-unit apartment community built in 2009 and located in Fayetteville, Arkansas.
Martin Bynum and...
NRHC survey shows rental home property owners under stress
Results from a new nationwide survey of single-family rental home owners conducted by Seven Letter Insight on behalf of the National Rental Home Council (NRHC) reveal the extent of widespread economic challenges encountered over...
$59 million bridge financing for central Florida apartments secured
JLL Capital Markets announced it has arranged a $59 million bridge financing for the 326-unit Dolce Living Royal Palm multihousing property located in Kissimmee, Florida, a submarket near Orlando.
JLL worked on behalf of the...
Report shows occupancy losses hit urban core
A recent study by Yardi Matrix examined occupancy results over the past 12 months from 78,000 properties representing 14.4 million units. It found that occupancy declines over the past year are severe in some...
