News
Economy Watch: Multifamily Expansion Slows
According to NMHC, for the first time since 2010, two of the four indexes—market tightness (coming in at 45) and sales volume (which was 49)—dipped below 50, though just barely
Special Report: Student Housing Trends vs. Traditional Multifamily Communities
At “Student Housing: Any Bumps Ahead in This Strong Sector” session at the recent NMHC Apartment Strategies Outlook Conference in Palm Springs, Calif., the speakers discussed how student housing differs from traditional multifamily apartments.
TODAY’S DEALS: TDI Real Estate Lands $61.6M for a Scottsdale Development
HFF lands $61.1 million for TDI’s Scottsdale development; Hayley Real Estate buys four properties for $51.2 million, initiates a $12.4 million capital improvement plan; and Marcus & Millichap arranges a $57 million sale in value-add opportunities.
Holland Partners Buys Suburban Denver Apartments
Holland Partner Group has secured $38 million in acquisition financing to buy a multifamily property in Littleton, Colo., a suburb of Denver. The asset is Monterey Heights, a 332-unit apartment complex.
Procida Funds Post-Sandy Construction of 200 Townhomes at Jersey Shore
In the first significant construction deal since Hurricane Sandy devastated the area, Procida Funding has provided a $7 million loan for the property acquisition and road construction for 200 townhomes in Toms River, N.J., through its 100 Mile Fund.
Work Begins on Suburban Boston Apartments
Wood Partners has closed on an 11.6-acre site in suburban Boston on which it plans to build Alta at the Estate, an 155-unit apartment property.
Economy Watch: President States His Intentions
In his second inaugural address on Monday, President Obama touched on a number of presumed priorities of his second term, including economic policy.
Seattle’s Eco-Friendly Stream Uptown Community Begins Leasing
Stream Uptown, a 118-unit, Class-A, mid-rise apartment community in Seattle’s Uptown enclave, has begun leasing residences. The announcement was made by Stream Real Estate LLC, a Seattle-based company focused on developing multifamily residential properties in the core of the Emerald City.
TODAY’S DEALS: Alliance Residential Buys 629-Unit Asset in Phoenix
Alliance Residential completes a $50 million buy; Beech Street Capital closes a $15.9 refinance for a 99-unit seniors housing asset in Washington; and NorthMarq arranges a $22.1 million mortgage with an interest-only feature.
Preventing Pests Before the Spring Renting Season
When the weather warms and snow melts, many people will take the opportunity to relocate to new apartments and houses. Unfortunately, rodents and other pests can become a major nuisance as your renting season heats up in early spring.