MHN’s December 2019 Must-Reads
- Jan 07, 2020
December debuted with the closing of one of the year’s largest multifamily transactions. UDR teamed up with MetLife Investment Management to acquire, among other assets, a 50-percent interest in 10 communities totaling more than 3,300 apartments, one project underway and four development sites.
Big-dollar deals also included Tricon Capital Group’s purchase of a portfolio of more than 700 single-family rentals in Nashville, Tenn. The transaction closed a couple of days before Global City Development partnered with Leste on a $2.5 billion housing platform that plans to deliver 10,000 single-family rental homes across the country.
The last month of 2019 also brought news of big-scale projects topping out. In downtown Miami, Two Roads Development topped off Elysee, its 57-story luxury condo tower, while in Jersey City, N.J., KRE Group topped out on the second phase of Journal Squared, a 754-foot-tall community—the tallest tower of the project, but also in the city.
In the year’s last innings, MHN looked back at the most important multifamily stories of 2019. We also discussed 2020 predictions with industry executives, with a particular focus on student housing and smaller markets.
Here are MHN’s must-reads from last month:
Top Multifamily Markets in 2020: Small Metros, Suburbs
In our 2020 outlook series, Presidium’s John Griggs weighs in on the main trends and challenges expected to shape the multifamily sector over the next 12 months.
Could 2020 Bring a Buyer’s Market?
A new survey from Capital One found 74 percent of industry executives are looking to invest in properties next year while only 19 percent said they expect to be sellers.
5 Markets With the Greatest Rent Loss
While average rents rose 3.1 percent year-over-year through November, several metros saw rents decline by as much as 4.6 percent.
Multifamily Rents Back in the Red
Despite a November decrease, the national rent growth level has remained at 3 percent or higher since last spring.
Rent Control Makes a Comeback as Housing Crisis Grows
Years of above-trend rent growth have led to a renewed push for states to set limits, with three passing new laws in 2019.
5 Things to Know About Opportunity Zone Deadlines
Investors should not be rushing into Opportunity Zone commitments, but here are some crucial dates to be aware of.
Florida’s 5 Fastest-Growing Metros
Find out which markets are adding the most significant number of housing units and the story behind their growth.