Rising mortgage rates and home prices put a damper on housing affordability
Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during the second quarter of 2023. According to the National...
$16.7 million construction take-out financing secured for L.A. multihousing community
JLL Capital Markets announced that it has arranged the $16.7 million construction take-out financing for The Hobart, a 39-unit, Class A mid-rise multihousing community located in the Koreatown submarket of Los Angeles, California. JLL represented...
Marcus & Millichap announces the sale of Sabal Court Apartments in Tallahassee
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Sabal Court Apartments, located in Tallahassee. Completed in 1967, this Property is...
Commercial real estate prices expected to stabilize in H2 2023, CBRE survey finds
Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey. The CBRE survey, which...
Berkadia arranges the sale and financing of apartment community in Charlottesville, Virginia
Berkadia has arranged the sale and financing of Abbington Crossing, a 468-unit apartment community located in Charlottesville, Virginia. Senior Managing Director Drew White, Senior Director Carter Wood and Director Cole Carns of Berkadia DC...
Jim Humphries joins JLL Capital Markets’ SFR team
JLL Capital Markets announced that Jim Humphries has joined the firm’s Single-Family Rental (SFR) team as a Director sitting in the Houston office. Humphries will focus on SFR and build-to-rent (BTR) investment sales nationally and will...
Griffith Pepdjonovic Group of Marcus & Millichap brokers the $2.3 million sale of suburban...
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 15-unit multifamily property located in Stoneham, Massachusetts. The 7,084-square-foot asset...
Cushman & Wakefield arranges sale of Uptown Terrace
Cushman & Wakefield has arranged the sale of Uptown Terrace, a 260-unit multifamily community located in Rogers, Arkansas. Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, SC Bodner Company, Inc....
$47 million financing arranged for newly built St. Louis apartment building
JLL Capital Markets announced that it has arranged a $47 million loan to refinance Marlowe, a newly built, 205-unit, Class A multihousing community located in the Central West End neighborhood of St. Louis, Missouri. JLL...
Multifamily CMBS delinquencies rise again in July
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher in July. The delinquency rate for the overall CMBS market also rose, with only industrial properties seeing delinquency rates...
$47 million financing arranged for newly built St. Louis apartment building
JLL Capital Markets announced that it has arranged a $47 million loan to refinance Marlowe, a newly built, 205-unit, Class A multihousing community located in the Central West End neighborhood of St. Louis, Missouri. JLL...
Marcus & Millichap announces the sale and financing of a Fort Lauderdale multifamily property
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 33-unit apartment property located in Fort Lauderdale, Florida. The 25,853-square-foot...
Stepp Commercial Group completes $2.65 million sale of an 8-unit apartment property in Long...
Stepp Commercial Group, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.65 million sale of an eight-unit multifamily property located at 1206 Gladys Avenue in Long Beach, Calif. Robert Stepp,...
Employment growth slows in July
The Employment Situation Report from the Bureau of Labor Statistics stated that employment rose in only one of the two categories of residential construction employment and in only one of the two categories of...
Trion Properties grows portfolio with $41.1 million multifamily acquisition in Aurora, Colorado
Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in multifamily investments, announces the acquisition of Trailpoint on Highline, a 198-unit multifamily asset in Aurora, Colorado. “We...
