News
TODAY’S DEALS: HFF Secures $34M Refi for SoCal Asset
HFF secures a $34 million refinance for a 306-unit community; Beech Street Capital provides $40 million in financing for a Baltimore-area portfolio; and Essex brokers sale of mixed-use property for $1.6 million.
Should You Outsource?
While the use of call centers is pervasive across many industries, the apartment sector appears to be at least one industry that is resistant to this current-day corporate trend.
First Smoke-Free Residential Building on Manhattan’s West Side
Residents of Manhattan’s West Side can now breathe a little easier. Equity Residential recently announced that Ten23, Chelsea’s first smoke-free apartment, is open for leasing.
NMHC Reports Upswing in Multifamily Construction
The National Multi Housing Council’s latest Quarterly Survey of Apartment Market Conditions reports that increased demand for rental housing has led to a considerable uptick in multifamily construction.
Cutting Costs: What’s the Next Layer of Opportunity for Rent Increases?
Now is the time to leverage conditions to enact a paradigm shift in how the industry underwrites risk. Simply stated, having the “upper hand” in the market for the next cycle creates a perfect opportunity to put a mandatory renter’s insurance plan into effect.
MARKET SNAPSHOT: Manhattan Accounts for 80 Percent of New York City’s Transaction Volume
New York–Apartment transactions in New York totaled 115 during the third quarter of 2011, according to Ariel Property Advisors’ most recent Multifamily Quarter in Review: New York City.
San Diego Project Goes from LEED Silver to Gold
The use of structural concrete on the University of California, San Diego’s new Rita Atkinson Residences appears to have done wonders in complementing the design and structure of this 450-bed apartment building.
Loosening Standards
Capital is pouring back into the most active commercial real estate investment markets as lenders are responding to improving property values and rising expectations of future income growth.
Market Issues Sideline CMBS Financing
Even as commercial mortgage-backed securities financing was slowly starting to make a comeback as a source of multifamily financing, U.S. and global macroeconomic issues, as well as micro-level CMBS-related issues, have come together to stall the CMBS sector.