News
JV Scores ’80s-Vintage Phoenix Apartments for $27M
L5 Investments, MLA Properties and BH Equities picked up the 360-unit Cielo Apartments and plan to invest $4.2 million in capital improvements.
Fundamentals Flourish in LA
Increased investor interest in the metro’s multifamily assets is driving property values to new highs, while keeping acquisition yields at nationwide lows.
Luxury SoCal Development Lands Management
The Trails at Canyon Crest, a 216-unit community, broke ground in October 2017. Construction is anticipated to finish early next year.
Marcus & Millichap Brokers Sale of FL Property
Fifth Avenue Courtyard is a 21-unit value-add community located in St. Petersburg. The buyer plans to upgrade the unit interiors.
Economy Watch: U.S. Apartment Market Uneven in Q1
The U.S. apartment market is sending mixed signals, according to the latest NMHC Quarterly Survey of Apartment Market Conditions.
Home Leasing Announces New Community in Upstate NY
Charlotte Square in Rochester is LEED Gold certified and will include 72 apartments, 10 townhomes and 50 mixed-income units.
Char-Broil Announces New Modular Outdoor Kitchen
With a stainless-steel frame and granite countertops, the easily customizable module also features LED-illuminated knobs and integrated halogen lights.
Waypoint Expands Senior Housing Portfolio
The firm purchased The Claiborne at Adelaide in Starkville, Miss., which offers 82 independent and assisted living units. This marks the company’s second senior housing investment.
Luxury San Antonio Community Changes Hands
The NRP Group has sold The Flats at Big Tex, a 336-unit property on the River Walk.
Houston Makes Buoyancy Its Brand
The metro’s multifamily market displayed a strong performance in the fourth quarter of 2017. As construction remains robust, rents are expected to rise by 2.3 percent in 2018.