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California Senate Bill 466 was withdrawn by its author after failing a floor vote.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...
Multifamily construction spending continues slow rise
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in April was up 0.6 percent month-over-month. Spending on single-family continued to fall while spending on...
FHFA requests input on multifamily tenant protections
On May 30, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises). Through their role...
Rent growth rate flat in May
The latest rent report from Apartment List shows that the national average monthly rent growth in May was a positive 0.5 percent, unchanged from last month’s increase. Year-over-year rent growth was 0.9 percent. Both...
JOLT data shows job openings rebound
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in April was 10.10 million, up 358,000 openings from last month’s revised...
Marcus & Millichap arranges sale and financing for multifamily property in Brea, California
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Birch Terrace Apartments, a multifamily property located at...
Multifamily property prices down in April as transactions plunge
CoStar reported that its value-weighted index of multifamily property prices fell 12.2 percent year-over-year in April. This index was down 1.4 percent month-over-month. While last month’s report indicated that multifamily property prices had risen in...
Ariel Property Advisors arranges sale of Sea Park affordable housing portfolio in Coney Island
Ariel Property Advisors (Ariel) announced the sale of the Sea Park affordable housing portfolio, consisting of three multifamily properties and one development site, all located in the Coney Island section of Brooklyn, NY. The...
Eagle Property Capital (EPC) announces disposition of multifamily asset in Dallas-Fort Worth Market
Eagle Property Capital Investments, LLC (EPC), a vertically integrated real estate investment manager focused on the value-add multifamily space, announced the disposition of Colinas Ranch Apartments, a 160-unit apartment community, located in Irving northwest of...
Marcus & Millichap Capital Corporation arranges $15 million financing for multifamily property in San...
Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged a $15.043 million loan for the refinancing of Santa Fe Townhomes, a multifamily property located at...
Industry associations respond to Supreme Court WOTUS ruling
In Sackett v. EPA, the Supreme Court ruled 9-0 that the Clean Water Act only applies to wetlands that have a continuous surface connection to bodies that are waters of the United States (WOTUS)....
