Regions
Multifamily Markets Positioned to Win in 2018
Above-trend population increases and job gains in non-gateway cities are generating strong investor and resident demand for multifamily housing, explained IRT Chairman & CEO Scott Schaeffer. Here are three such markets poised to benefit from this trend in 2018.
JV Restructures Partnership for Brooklyn Redevelopment
Greenland USA and Forest City Realty Trust reached an agreement to extend Greenland’s ownership interest to 95 from 70 percent and decrease Forest City’s interest to 5 from 30 percent for its Pacific Park Brooklyn mixed-use project.
408 Units in CO Change Hands
Inland Real Estate Acquisitions has acquired Après Apartments in Aurora. At the time of the sale, the community was 95 percent occupied.
Milhaus Plans Cincinnati Property
Poste is part of the 250 units the developer intends to start building in Walnut Hills this year. The company also announced a capital investment of $245 million for the development of Class A, market-rate properties across the country.
Woodmont Properties, Baker Residential Start Construction on NJ Assets
The joint venture is developing a 220-unit community in Bayonne, which is expected to be completed in the spring of 2019.
Eye Candy Meets Practicality
Since its earliest days, the Kitchen & Bath Show has been drawing multifamily specialists who know how to connect the dots between residential housing trends and the apartment market. Here are some of the highlights, including a mix of practical and sexy products in a range of applications.
Balfour Beatty Breaks Ground on IN Student Community
The 387,000-square-foot Aspire at Discovery Park, the first phase of a $1.2 billion planned development near Purdue University, is expected to be complete in August 2019.
Economy Watch: Apartments Rents Falling in Some Major Markets
While nationwide apartment rents continued to rise in 2017, 14 of the largest U.S. cities saw average rents either decrease, stagnate or grow slower than the national average, a recent RentCafé report noted.
Multifamily Investment 2018: Use a Scalpel—Not a Machete—to Find Value
As value-add multifamily deals in primary markets continue to be rare finds, more investors are likely to seek yields in non-core locations this year, predicts Bryan Sullivan, vice president of acquisitions and development at The Habitat Co., in his MHN-exclusive industry outlook.
CBRE Closes Sale of Garden-Style MA Community
After the expiration of the original affordable restrictions, the 102-unit community in Stoughton, Mass.,underwent significant renovations, including landscaping and parking improvements.