Sale of student housing community near University of Houston closes
JLL Capital Markets announced that it closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston, the third largest university in Texas. JLL worked on behalf...
Housing affordability posts solid gain but still much lower from a year ago
Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability at the start of 2023, but ongoing building material supply chain issues and expected...
Seth Heikkila returns to JLL Capital Markets’ multihousing team
JLL Capital Markets announced that Seth Heikkila has re-joined the firm’s multihousing team as a Senior Director in the Seattle office. He will focus on multihousing debt advisory. "We are thrilled to welcome Seth to our team....
PCCP, LLC provides $57 million loan to refinance Metro University City in Charlotte, North...
PCCP, LLC has provided a $57 million loan for the cash neutral refinance of Metro University City, a 309-unit mid-rise multifamily community located at 404 Gallop Lane in the University City neighborhood of Charlotte,...
Cushman & Wakefield arranges $91 million sale of The Reserve at Sugarloaf in Atlanta’s...
Cushman & Wakefield announced that the commercial real estate services firm arranged the $91 million sale of The Reserve at Sugarloaf, a 333-unit multifamily community located in Duluth, Georgia at 2605 Meadow Church Rd. Cushman...
More than 700 residential construction workers discuss housing issues in hill visits
More than 700 builders, remodelers and associates engaged in all facets of residential construction marched on Capitol Hill to call on Congress to take steps to ease the nation’s housing affordability crisis and make...
The Mogharebi Group closes on two multifamily properties in California’s Central Valley
The Mogharebi Group (TMG) has successfully secured the sale of two Central Valley multifamily communities totaling 102 units in separate transactions valued at $15.6 million combined. Located at 520 S. County Center Dr. in Visalia,...
PCCP, LLC provides $67.8 million loan for the development of Parkway Crossings, a 309-unit...
PCCP, LLC has provided a $67.8 million loan to Fore Property Company for the ground-up development of Parkway Crossings, a Class A, 309-unit multifamily community in Kissimmee, Florida. The six-acre site is situated near...
$97.25 million in financing secured for luxury New Jersey multihousing community
JLL Capital Markets announced that it has secured the $97.25 million financing for Vinty, a 267-unit, Class A, mixed-use development in Elizabeth, New Jersey. JLL worked on behalf of the borrower, LeCesse Development Corporation and...
Daytona Beach multihousing development secures $77 million in financing
JLL Capital Markets announced that it has closed the $77 million construction financing for Atlantica at Daytona, a 341-unit, luxury, garden-style multihousing development in Daytona Beach, Florida. JLL represented the borrower, a joint venture between...
Single-family construction slowdown less pronounced in lower density markets
While single-family home building has slowed significantly from pandemic-fueled highs because of higher interest rates and construction costs, the slowdown is less pronounced in lower density markets. Meanwhile, multifamily market growth remained strong throughout much...
Attractive financing secured for an ultra-luxury multihousing asset in Beverly Hills, California
JLL Capital Markets announced that it has arranged financing for two trophy assets in Beverly Hills, California. JLL secured the senior notes with Wintrust Financial for 9440 Santa Monica Blvd., an approximately 92,000-square-foot, trophy,...
California rent control: one measure advances as another fails
California Senate Bill 466 was withdrawn by its author after failing a floor vote. At the same time, a proposed rent control ballot measure seems to be on its way to qualifying for the...
Cushman & Wakefield arranges sale of two Tallahassee multifamily communities
Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Parkway Square and Tally Square, two multifamily communities totaling 505 units located in Tallahassee, Florida. The final sale...
Mixed signals in May employment report
The Employment Situation Report from the Bureau of Labor Statistics stated that apartment operations employment and residential construction employment both rose compared to their revised levels from the month before. Total employment growth continues, or...
