News

SoCal Delivering for Investors in San Diego

The city's multifamily market continues to attract robust investor demand, with transaction activity hot off 2016’s cycle high and already at $1 billion year-to-date through July. The market boasts the fourth-highest occupancy rate among major U.S. metros. As a result, rents were up 4 percent year-over-year as of August, well above the national rate.

Research Center

Las Vegas Community Trades for $18M

Berkadia arranged the sale of Emerald Park Apartment Homes, a 300-unit community. The buyer paid $95 per square foot, a 5.5 percent cap rate.

Market Rate

HFF Arranges $20M Seattle Community Sale

PCCP LLC and Westbridge Properties LLC have sold Arterra Townhomes, an 81-unit community in Kent, Wash., built in 1990.

Market Rate

Regions

Change City

TD Bank Invests in Affordable Philly Community

The bank provided a $9.1 million construction loan and purchased $12.0 million in federal tax credits. The money will be used to redevelop a nursing home into a 60-unit affordable housing project for seniors.
Philadelphia 18 October 2017 20:34
TruAmerica Nabs Orlando Community for $48M

TruAmerica has expanded its portfolio with the purchase of Arium Falcon Pines, a 300-unit luxury community. The property will be rebranded as Canterbury Cove, and receive interior and exterior upgrades.
Orlando 18 October 2017 20:27
Brooklyn Luxury Condo Sales Set New Record

The 14-unit 868 Lorimer On The Park is 50 percent sold within three months of The Serhant Teamlaunching sales. The property also includes Greenpoint neighborhood‘s most expensive condo sale.
New York 18 October 2017 19:59
Bellwether Closes $42M for 3 Affordable Properties

The properties, all in Charlotte, N.C., include the 381-unit Southside Homes, the 176-unit Edwin Tower and the 161-unit Charlottetown Terrace.
Charlotte 18 October 2017 17:47
Passco Buys LA Apartments

Watervue, a 264-unit community in Lake Charles, La., features two lakes, as well as amenities such as a fitness center, swimming pool and outdoor kitchen.
South 18 October 2017 16:12
PB Bell Begins Construction on AZ Senior Housing

In partnership with Cadence Senior Living, the company is developing Inspira Arrowhead, a 165-unit senior housing community in Glendale, Ariz., that will feature both independent living and memory care apartments.
Phoenix 18 October 2017 15:48
Rapid Job Gains Reshape Tampa

Above-trend job growth continues to put the metro in the spotlight as a prime coastal market, both in Florida and nationally. Solid fundamentals and a diverse economy fuel Tampa Bay’s multifamily sector, with the region producing strong rent gains.
Tampa 18 October 2017 15:35