Regions
GEM Property Management Exits St. Louis in $180M Sale
The nearly 2,000-unit portfolio sale is the largest multifamily transaction in the city’s history, encompassing six communities in southern St. Louis County.
Greystar Buys $84M CA Property
The firm acquired Pacific Court Apartments, a transit-oriented and value-add property in downtown Long Beach. The buyer plans to upgrade the interior as well as the communal area amenities.
LA-Area Property Sells for $45M
Berkadia brokered the sale of Sunset Plaza, a 183-unit property located in West Covina. The firm represented both the seller and the buyer in the transaction.
Majority of Homes Not Affordable for Average Workers
A report from ATTOM Data Solutions found that the median home price in the first quarter to date is not viable in 68 percent of the 466 U.S. counties analyzed.
Strong Economy Lifts Real Estate in Salt Lake City
Due to robust employment and solid demographics, Utah’s largest city is generating demand across all asset classes.
Rittenhouse Realty Sells 120 Units in DE
Constructed in 1975, the Wilmington community includes 118 units, a swimming pool and 240 parking spaces.
Campanelli, Thorndike Sell MA Luxury Asset for $54M
East Main Apartments, located between Providence and Boston, features 188 units. Campanelli Construction completed the Class A community in 2017.
CBRE Arranges $55M Portland Asset Sale
Joe Nydahl, Phil Oester and Josh McDonald of CBRE’s Northwest Multifamily Institutional Investment division worked on behalf of the seller of the 149-unit, mid-rise property, of which 38 apartments are affordable.
Record Supply Moderates Rent Growth in St. Louis
The city’s job gains are somewhat middling, but a below-trend unemployment rate means that housing continues to be in high demand.
OBP Partners Acquires 2 Boston Properties
The company secured a 185-unit suburban apartment portfolio from True North Capital Partners for $45.2 million.