News
Portland’s Charm
The city’s multifamily demand remains elevated, fueled by a healthy job market and an influx of young people for professional and lifestyle purposes.
CBRE Secures $90M for Phoenix Community
The Capital Markets Debt & Structured Finance team arranged the financing for San Sonoma, a 590-unit property with an average rental rate of $1,373.
Oden Hughes Breaks Ground on San Antonio Project
The 308-unit community is being built as part of The Rim, a 700-acre mixed-use development that also includes office and retail. Residences are scheduled to open in mid-2018.
Allied Orion Tapped to Manage Houston’s Bayou on Bend
The Arel Capital-owned 242-unit luxury property is located in the Memorial neighborhood, overlooking the downtown district. The community includes more than 60 floor-plan variations, as well as some two-story units.
JPI Lands $132M for Jefferson Stadium Park Phase II
The project is part of a three-phase, master-planned development in Anaheim’s Platinum Triangle. The property will feature 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of retail.
Griffin-American Healthcare REIT Nabs Senior Housing Portfolio
American Healthcare Investors and Griffin Capital Co. LLC’s REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.
Berkadia Secures $25M Loan for TX Community
Berkadia arranged the acquisition loan on behalf of Faudree Ranch Apartments LLC. The 300-unit community in Odessa, Texas, was 90 percent occupied at the time of the transaction.
Economy Watch: Americans Earn More, Spend More in April
The month’s increase in personal income was mainly because of a boost in private wages and salaries, the BEA reported. This bodes well for the wider economy, since wages have lagged productivity for so long.
Stepp Facilitates Long Beach 1031 Exchange
The three-property portfolio traded for $10.6 million or nearly $189,000 per unit and closed at a 4.6 percent cap rate.
Nashville’s Supply Side Shines
The area’s multifamily fundamentals continue to be solid on most levels. With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket for investors.