News
Rent Growth Rebounds in San Francisco
The metro’s average multifamily rent went up 2.7 percent year-over-year through June, to $2,645, while housing affordability dropped to its lowest level since 2008.
MI Community Receives $11M Refi
After previously securing acquisition financing for Timberwood Crossing, Cohen Financial has now arranged a HUD-insured loan for the same property. Managing Director Cathy Bronkema worked on behalf of the owner.
Sage Management Adds 687 Units in MD
The company paid $113 million for two properties in the D.C. and Baltimore metros. The communities will be owner-managed and will receive amenity improvements and various renovations.
Interra Realty Closes New Chicago Deal
The multifamily property is located in the Edgewater neighborhood and sold for $2.1 million, after having recently been renovated by the seller.
Tampa Asset Commands $31M
Franklin Street arranged the sale of River View Apartments from River View Tampa. The community includes 296 units.
Modern Forms Introduces New Ventilation Solution
Using a DC motor powered by WAC LED and control technologies, the Modern Forms Vortex Fan exclusively runs on stealth mode.
Latch Raises $70M Series B Fund
Brookfield Ventures will be leading the fund and installing the brand’s smart access system throughout properties within its current pipeline, creating the world’s largest smart access ecosystem within a single portfolio.
Affordable Housing: A Safe Investment in Unpredictable Times
Avanath Capital Management’s John Williams and Jun Sakumoto explain why affordable housing properties should be seen as opportunities to produce consistent returns. The two executives also revealed their expectations regarding the sector going forward.
TruAmerica Multifamily Makes New Appointments
The company promoted Matthew Ferrari to head of acquisitions nationwide and hired Chris MacLeod as director of acquisitions on the West Coast, among other recent employee additions.
Walker & Dunlop Closes $26M Loan for AL Student Housing
Two21 Armstrong, a 390-bed property, is located just two blocks from Auburn University. Livingston Hessam, Jeremy Pino and Kyle Miller, along with HUD experts Keith Melton and David Strange, arranged the loan.