Jeremy Agraz joins KTGY as national development director
International award-winning KTGY Architecture + Planning has named Jeremy Agraz as national development director, CEO Tricia Esser announced today. “We’re excited to welcome Jeremy Agraz to this national development role, confident that his passion for...
Morgan opens luxury Pearl La Floresta in California
MORGAN, a leader in upscale multifamily development, construction and property management, has opened and started leasing Pearl La Floresta in Orange County, California. The five-story midrise, MORGAN's latest luxury apartment community in its portfolio...
San Fernando Valley apartment complex trades hands at $45 million
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of Cielo Apartments, a 119-unit multifamily property in Chatsworth, California. The $45 million sales price equates to more than $378,000 per...
Wind at our back
The new tax system, which was reformed for the first time in 32 years in December, strips away some of the long-standing benefits that would incentivize Americans to become homeowners. “This is definitely a tailwind...
The push for rent control
In November 2018, election ballots in California might include a question on rent control. Right now, California law restricts the spread of rent regulations on housing built after 1995, in addition to many older...
Solar: At what cost?
Finding cheaper sources of power is a no-brainer in any circle. Many in the solar business have learned that to get communities, investors and utilities on board, the conversation must center on economics. And so...
$20.5 million buys Tucson value-add multifamily asset
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of River Oaks Apartments, a 300-unit apartment complex in Tucson, Arizona. The $20.5 million sales price equates to $68,333 per unit. “The...
California’s answer to its housing crisis
With high demand on top of inadequate supply, the meaning of “affordable” in the most desirable locations can be difficult to gauge. According to the U.S. Department of Housing and Urban Development (HUD) definition,...
Rent control raises housing costs
A new paper analyzes the effects of rent control expansion in the city and finds that it reduced rental housing supply, causing a city wide-rent increase. People are understandably worried about the cost of living,...
$110 million multifamily asset in Phoenix sold by IPA
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announces the sale of Red Mountain Villas, a 768-unit apartment complex in Phoenix. The $110 million sales price equates to $143,229 per unit. The...
From mall to ecosystem
Construction has started on a 23-story upscale apartment tower at Westfield UTC, a one-million-sq.-ft. outdoor center in San Diego, but the project is much more than the redevelopment of an upscale retail center owned...
Investor’s latest sweetheart: workforce housing
There is expected demand for an additional 4.5 million new apartments in the U.S. by 2030, according to data from the Workforce Housing Committee of the National Multifamily Housing Council, Washington. What’s more, deal activity...
Is rising rent a myth? For many, incomes seem to be keeping up.
Most people paying attention to the cost of renting an apartment in the U.S. would tell you that prices have gotten out of hand. That’s certainly true at the extremes where, say, the typical two-bedroom...
A gem regains its luster and a city gains apartments
On a plot of land between Immanuel Presbyterian Church, now listed as a Los Angeles Historic-Cultural Monument, and the Ambassador Hotel, home of the Coconut Grove nightclub and host of the 1930 Academy Awards,...
The high cost of incivility
The nasty looks and belittling comments reached a point at law firm Bryan Cave, in Irvine, Calif., that the partners held a civility workshop. Managing partner Stuart Price says working together toward a common goal...
