News

CBRE announced the sale of two multifamily apartment communities totaling 23 units for $7.09 million in Long Beach, California to two separate buyers. In the first transaction, CBRE’s Executive Vice President Dan Blackwell and Senior...

Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the formation of a joint venture partnership with ITOCHU Corporation to...

The U.S. Department of Housing and Urban Development (HUD) announced that it recently closed a transaction to rehabilitate and preserve 983 affordable rental homes at the New York City Housing Authority’s (NYCHA) Union Avenue...

Berkadia announces it has secured a $31 million loan to refinance No.17 Residences Allapattah, a 192-unit attainable luxury apartment rental building in the Fruit Packing District of Allapattah. The property is situated in Miami’s centrally...

TruAmerica Multifamily, a national, institutionally-focused multifamily investment firm, is growing its capital markets team with the addition of Rob Kukulka, who joins as a Capital Markets Advisor, Middle East, based out of TruAmerica’s Chicago...

The balance of power in the apartment market has finally shifted, giving renters a lot more options, suggests a Q3 market report from RealPage Analytics. This shift is due to a deluge...

The October Employment Situation Report from the Bureau of Labor Statistics stated that employment growth was positive for the month in all 4 multifamily-related job categories we track. In addition, the prior month’s employment...

Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced that the firm has closed on construction financing and the acquisition...

Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $9.2 million sale of Art House Eleven 21, a 16-unit, mixed-use apartment building in Wilmette, Illinois. The transaction equated to $576,562...

Newmark announces it has arranged the sale and financing of Stone Brook, a 376-unit multifamily asset located at 619 Rollingbrook Drive in Baytown, Texas.  Built in 2000, Stone Brook is a garden-style apartment complex that...

Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Waters Edge, a 304-unit multifamily asset. Ideally located within The Lakes master-planned community, consisting of high-end waterfront single-family residences, condos, and...

Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Apex One91, a 110-unit apartment complex in Manchester, Connecticut. “Apex One91 is a newly renovated multifamily asset in a market where year-over-year...

CBRE announced the completion of the $182 million sale of Hanover North Cambridge, a 294-unit luxury apartment complex located adjacent to the MBTA Alewife Station in Cambridge, Massachusetts. Completed in 2022, the newly developed residential community was acquired by a fund advised by Goldman Sachs Asset Management from The Hanover Company and its institutional partner. Ideally located in the number one life sciences market in the world that is home to more than 32 million sq. ft. of office space, as well as renowned universities Harvard and MIT, Hanover North Cambridge boasts one of the market’s most impressive apartment and amenity packages. The recently completed property is LEED Gold Certified and boasts over 26,000 sq. ft. of indoor and outdoor amenity space including 7,067 sq. ft. of retail space housing a vibrant Caribbean inspired full-service restaurant. Additional amenities include a grand lobby with a reception area; meeting spaces and leasing offices; modern resident club room with an oversized screen; lounge seating and shuffleboard; a co-working lounge with banquette and communal seating; USB connectivity and private meeting space; and a 24-hour state-of-the-art fitness center featuring Echelon Reflect Touch Mirror & Smart Connect Bikes. Providing the perfect work/life balance, the brand-new apartment homes offer four different custom kitchen finishes and unrivaled amenities. In addition, the community is built over a podium offering two levels of covered garage parking. “Hanover North Cambridge is one of the premier residential properties in the heart of one of the country’s top biotech hubs in Cambridge,” said Mr. Butler. “The acquisition provided the buyer an opportunity to own a best-in-class building in the neighborhood, given its ideal location and exclusive lifestyle amenities as well as a tremendous upside in lease-up due to climbing rents in the area.” The CBRE Capital Markets team of Simon Butler, Biria St. John, John McLaughlin, and Brian Bowler led the transaction team in marketing the property and exclusively represented the seller in the negotiations.

A new report from CBRE states that cap rates for prime class A multifamily assets moved higher in Q3 as both the 10-year Treasury yield and the Fed Funds rate also rose. The pulse of...

Newmark announces it has arranged the sale and financing of Maverick Place, a 117-unit, 382-bed student housing asset serving the University of Texas at Arlington (UTA). Newmark Vice Chairman and head of the company’s Student...