Cities
American Capital Group Begins Sacramento Development
The Kinect at Southport community is ACG’s third Western U.S. transaction this year.
Aventon Cos. Eyes Atlanta Project
A 300-unit development will be built on a newly acquired site.
Brickstone Lands Boulder Student Housing Refi
Blackstone Real Estate originated two senior loans for the downtown community.
TPA Residential to Build Atlanta-Area Community
The 318-unit project will come online within a 19-acre, mixed-use development in Kennesaw, Ga.
Experience Senior Living Announces Tampa Development
Construction is scheduled to start later this year.
Baltimore Multifamily Report – August 2022
Baltimore’s multifamily market posted moderate performance amid rising interest rates and a declining population. The average rent reached $1,664, up 0.8 percent on a trailing three-month basis through June, picking up after two quarters of sluggish increases. The rate remains just below the $1,706 U.S. figure. READ THE FULL YARDI MATRIX REPORT Baltimore’s economy is still lagging pre-pandemic levels of employment, but is making strides nonetheless. Job growth was at 4.1 percent —60 basis points behind the U.S. average—with 71,700 positions added in the 12 months ending in May. The unemployment rate clocked in at 3.6 percent as of May,…
DCHFA Funds Construction of DC Affordable Housing
The community will serve residents earning 30 percent to 50 percent below the area median income.
CEG Multifamily Acquires Houston Community
The 288-unit property is currently 90 percent occupied.
Lincoln, Kairoi Residential Unveil Austin Tower
Waterline will have luxury apartment homes along with office space and a hotel when completed.
Philadelphia Multifamily Report – August 2022
Halfway through 2022, Philadelphia’s multifamily market maintained its vigor despite rising uncertainty regarding the economy. Strong demand kept up with substantial deliveries and the occupancy rate in stabilized properties remained flat at 96.7 percent in May, with core submarkets beginning to regain popularity among renters. Meanwhile, the average rent rose 11.4 percent year-over-year through June, to $1,695, still trailing the $1,706 U.S. figure. READ THE FULL YARDI MATRIX REPORT Philadelphia’s employment market expanded 4.3 percent, or 113,800 jobs, in the 12 months ending in May, 40 basis points behind the U.S. rate. Leisure and hospitality (38,100 jobs), trade, transportation and…