Regions
Demand Pushes Twin Cities’ Occupancy to Top
Although investor appetite is high, deliveries haven’t kept up with demand. Roughly 6,700 units were underway late last year, mostly targeting high-income residents.
MHN’s Top 5 January Articles
Miss out on any MHN stories in January? Here are five of our most popular articles for the month.
Berkadia Secures $37M Financing for WA Community
Senior Director Rob Affleck arranged the construction loan for the project, slated for completion in 2019, through a HUD program.
HFF Closes $20M Sale of Delaware Portfolio
The adjacent Alder Park and Pine Grove apartment communities in Dover, Del., are located roughly 83 miles from central Philadelphia and comprise a total of 311 units.
Supply Surge Dampens Rent Growth in Kansas City
The metro continues to attract large employers and consolidate its status as a destination for travel and investment. However, the multifamily development boom has led to a rent growth slowdown.
JV Secures $707M for Student Housing Portfolio
Walker & Dunlop structured a Fannie Mae credit facility with a mix of fixed- and floating-rate loans for the joint venture’s purchase of 24 student housing properties.
KeyBank Delivers $161M for Age-Restricted Portfolio
Structured in a variety of ways, the Fannie Mae funding refinances 13 age-restricted housing properties totaling 1,500 units in four states.
UIP Closes Record Deal Following TOPA Bid
The deal followed tenants’ exercise of their right to purchase the transit-oriented property in the Capitol Riverfront submarket from J.P. Morgan Chase.
Safanad Expands Student Housing Portfolio
The joint venture plans to implement an immediate $5 million renovation program for the 910-bed student housing community, which serves students attending various Washington, D.C.-area universities.
CDP Opens First Permanent Supportive Housing in CA
The firm led an $18 million renovation of an old hotel into The Orchard, which offers 72 units that will house chronically homeless individuals and small families in Santa Ana.