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MHN’s Top 5 May 2017 Articles
Miss out on any MHN stories in May? Here are five of our most popular articles for the month, including the top 10 apartment owners in San Francisco and the role of virtual assistants in leasing and property management.
3 Assets Trade in Newark
Gebroe-Hammer Associates facilitated two deals for the New Jersey properties. The three-story communities total 95 units in the Upper and Lower Roseville neighborhoods of the city.
Portland’s Charm
The city’s multifamily demand remains elevated, fueled by a healthy job market and an influx of young people for professional and lifestyle purposes.
CBRE Secures $90M for Phoenix Community
The Capital Markets Debt & Structured Finance team arranged the financing for San Sonoma, a 590-unit property with an average rental rate of $1,373.
JPI Lands $132M for Jefferson Stadium Park Phase II
The project is part of a three-phase, master-planned development in Anaheim’s Platinum Triangle. The property will feature 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of retail.
Griffin-American Healthcare REIT Nabs Senior Housing Portfolio
American Healthcare Investors and Griffin Capital Co. LLC’s REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.
Economy Watch: Americans Earn More, Spend More in April
The month’s increase in personal income was mainly because of a boost in private wages and salaries, the BEA reported. This bodes well for the wider economy, since wages have lagged productivity for so long.
Stepp Facilitates Long Beach 1031 Exchange
The three-property portfolio traded for $10.6 million or nearly $189,000 per unit and closed at a 4.6 percent cap rate.
Nashville’s Supply Side Shines
The area’s multifamily fundamentals continue to be solid on most levels. With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket for investors.
SF Development Bags $66M in Construction Financing
Rescore Property Corp. and Presidio Development Partners have received funding from Square Mile Capital for The Rise Market Street, a nine-story, 160-unit project in the Upper Market/Hayes Valley neighborhood.