News
TODAY’S DEALS: Bozzuto Begins a Mixed-Use Project in D.C.
The Bozzuto Group breaks ground in D.C.; The Bascom Group completes its fourth Denver acquisition in 2012; and Pearlmark Real Estate closes a $7.9M mezzanine loan for new construction in Atlanta.
NorCal Seniors Housing Property Sells
Oakmont Gardens, a 163-unit independent living and assisted living property in Santa Rosa, north of San Francisco Bay, has traded hands for an undisclosed price.
The Outlook for Investing in Secondary and Tertiary Markets
Key takeaways from the recent MHN-CPE webinar “Secondary and Tertiary Markets: Identifying, Finding and Investing in Commercial Real Estate Opportunities.”
MARKET SNAPSHOT: Vacancy Hits Lowest Level in Over a Decade in Kansas City
Submarkets across the Kansas City metro area posted substantially improved vacancies in the second quarter of 2012, some as low as 3.5 percent.
Boston Capital Invests in 70-unit Affordable Multifamily Development
Boston Capital is investing in the construction of Cheriton Heights Apartments, a 70-unit multifamily development for seniors in Boston’s West Roxbury neighborhood.
McKinley Appoints Gene Miller as New Chairman and Recognizes Paul Dimond
McKinley board members Albert M. Berriz and Marc Weiser recently announced at their 3Q board meeting that Eugene A. (“Gene”) Miller has been elected chairman of the board effective immediately.
MBA Analysis Pegs 2011 Multifamily Lending at $110 Billion, Up 60 Percent From 2010
In 2011, 2,653 different multifamily lenders provided a total of $110.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association.
Economy Watch: Apartment Vacancies, Absorption Both Edge Down
Reis Inc. reported on Wednesday that the national apartment vacancy rate was 4.6 percent during the third quarter, down a notch from 4.7 percent during the previous quarter.
Public-Private Overhaul
Institutions across the country look to the University of Kentucky for advice on using public-private partnerships to replace aging student housing stock.
A Landlord’s Market
With vacancies low and new construction minimal, the Sunshine State holds great opportunity for apartment owners and investors.