News
Construction Surge Dilutes Rent Growth in Miami
Following another record-breaking year for multifamily deliveries, the metro is on the verge of oversupply. As new units add up to the existing stock, we expect rents to rise 3 percent in 2018.
Record Supply Takes Its Toll in Detroit
The high number of multifamily units completed in 2017 moderated rent growth, which nevertheless continues to outpace the national average.
J.C. Hart Acquires 102-Unit Indianapolis Community
Built in 2016, The Flats at Switch offers more than 9,800 square feet of retail space and was more than 90 percent occupied as of June.
Pathfinder Partners Grows in CO
The purchase of Verona Park in Aurora marks the firm’s eighth investment in the Denver area. The 119-unit community offers 13 laundry facilities and 290 parking spaces.
Campus Apartments Snags VA Property for $31M
The Collection Midtown in Richmond includes 20 buildings and 219 units. This acquisition is the company’s third in the area.
Marcus & Millichap Brokers Sale of 2 WV Properties
The communities are situated north of central Morgantown and have a combined 409 units in 29 individual buildings.
Colliers Brokers Record Sale of West Seattle Community
Completed in 2015 and a 6-mile drive of downtown, the 38-unit asset sold for a record price in the West Seattle area.
On the Market: 5 Interesting Listings for the Week of 7/30
This week’s selection includes a vintage community in Newport News, Va.; a new luxury development in Brooklyn; and more.
Albuquerque Seeks Solid Ground
A slow population growth, scarcity of new inventory and modest employment gains continue to position the metro’s multifamily market among the weakest in the country.
MACC JV Grabs TN Portfolio
Hyde Capital Group traded the two communities, totaling 456 units, for more than $32 million. The new owner plans to renovate both assets.