February was the first month since June 2014 that multi-housing starts totaled less than 300,000 units, according to the National Association of Home Builders (NAHB).
According to forecasts by Marcus & Millichap, 210,000 units will be completed in 2015 in major metropolitan areas, with average effective rents of $1,219 and average vacancy rates of 4.8 percent.
Multifamily housing starts (five-plus units) rose by 7.6 percent over the month of November 2014 to 340,000 units, according to the National Association of Home Builders.
Cohen Financial announces that it has arranged $10.366 million for two properties in Grand Rapids, Mich.; and NorthMarq Capital’s Los Angeles office secures a 5+25 Year term loan.
