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Taurus Nabs NC Apartments for $54M
The company plans to renovate the 302-unit Brook Arbor Apartments, located in Cary. Additionally, it intends to work with The Dolben Co. to incorporate select sustainability upgrades and a renewable energy system.
Rents Contract as New Units Come Online in Brooklyn
Brooklyn is seeing an explosive expansion of office-using industries and the tax environment is having a positive effect on multifamily construction and on future affordable housing development.
Supply Compresses Rent Growth in Manhattan
Employment growth persisted this year, despite some significant losses in the information and manufacturing industries. Meanwhile, investment activity has started to slow.
Top 10 Denver Apartment Owners
A booming economy paired up with an accelerated increase in population have resulted in an influx of multifamily investors in Denver during the last five years. According to Yardi Matrix data, Starwood Capital emerged as the area’s top property owner, with a portfolio consisting of more than 9,000 units.
Rent Deceleration Continues in San Francisco
The metro’s economy is strong and market indicators reflect continued growth, albeit at a slower pace than a couple of years ago. As supply continues to catch up with demand, Yardi Matrix expects rents to rise 0.8 percent in 2017.
Suburban Denver TOD Sells for $95M
Wolff Co. sold the 360-unit 8000 Uptown Apartments in Broomfield, Colo., for $264,000 per unit. The property is 96 percent occupied.
AL Apartments Command $21M
Hamilton Point investments has acquired the 240-unit Woodside in Mobile. Cushman & Wakefield represented the seller, Equity Research Partners.
FCI Boca Raton Luxury Project Plan Nears Completion
Dubbed Camino Square, the 350-unit community will comprise two buildings. The development is set to replace the rundown shopping center.
Fourmidable Secures Management Deals for Ohio Communities
The company will run several Section 8, tax credit and public housing communities throughout the state. The properties total 395 units.
Winds of Change Buffet Chicago Multifamily
At the Lincoln Park Builders of Chicago Real Estate Forum, panelists shared insights on what’s next for the city’s development market.