Economy Watch: Apartment Markets Slowing Down
All four indexes in the NMHC’s quarterly survey released this month were below the break-even level of 50, indicating weaker conditions in the multifamily industry.
Greystone Completes Brooklyn Community
531 Myrtle features 29 residences, including studios and one- and two-bedroom units ranging from about 400 square feet to 895 square feet.
Starwood Capital Snaps Up Canadian Apartment REIT for $2.9B
The deal will expand Starwood’s footprint in 16 markets across the Southeast and Southwest.
Affordable Housing Opens in Central Florida
Housing Trust Group has opened Valencia Grove in Eustis.
Suburban Seattle Apartments Sell for $15M
The sales price for the 119-unit property equates to just under $129,000 per unit.
PPA Group Sells San Antonio Property
Kenton Place was last purchased as part of a three-property portfolio with 10 acres of vacant land.
Work Begins on Miami’s Tallest Condo
When the development by CMC Group reaches full height, it will rise 736 feet above street level (64 stories) and include 549 units.
Magnolia Capital Acquires Raleigh Apartments
The 452-unit, garden-style community is located in the North Raleigh submarket in North Carolina.
Jersey City Apartments Win Financing, Will Remain Affordable
Rockport Mortgage Corp. facilitated the $95 million loan.
Passco Caps 2016 with Apartment Buy in SC
The company acquired a 240-unit property for $38.5 million.