Cities
Las Vegas Multifamily Report – August 2022
The pandemic slammed Las Vegas’ ascent, and after a swift economic surge in 2021, the performance of the local economy tempered to a steady recovery. This was mirrored by the multifamily market, with rent expansion moderating after a strong run, up 0.6 percent on a trailing three-month basis through June, to $1,525, trailing the 1.1 percent U.S. rate. The metro recorded a slowdown during the first half of 2022, with occupancy marking the largest decrease among major U.S. metros, down 1.4 percent in the 12 months ending in May, to 95.1 percent. READ THE FULL YARDI MATRIX REPORT Las Vegas…
RangeWater Breaks Ground on San Antonio Townhome Project
Caliza at the Loop marks the company’s first ground-up development in the market.
Casoro Group Sells Houston Asset
The Quinn South at Westchase recently underwent several value-add improvements.
Gilbane Development Completes 978-Bed Student Property
The fully furbished community serves the University of Maryland.
Toll Brothers JV Develops 3 DFW Projects
The Fort Worth, Frisco Square and Dallas communities are the partners’ first projects since forming in 2021.
Houston Community Lands $11M Refi
Greystone secured the Fannie Mae DUS loan for the 224-unit community.
Thompson Thrift to Break Ground on Missouri Luxury Community
The Depot will be the developer’s third community in Missouri.
SB Real Estate JV Pays $56M for Phoenix Asset
The acquisition consolidates the partnership’s Southwest multifamily expansion.
Manhattan Multifamily Report – August 2022
Investment activity was tepid during the previous two years, mostly due to the health crisis and rent control measures, but sales activity during the first half of 2022 made up for that, with more than $3 billion in multifamily deals recorded.
Standard Communities Acquires Partially Affordable Chicago Asset
The buyer financed the purchase with low-income housing tax credits secured in partnership with Boston Financial Investment Management.