As we neared the one-year mark of the coronavirus outbreak, it was important to look back on 2020 to examine the sectors that were heavily impacted and understand what’s ahead for the residential real estate market. We reviewed the top 10 markets for transaction activity in 2020, what the last quarter of 2020 tells us about the multifamily market and the new realities for senior housing. As for predictions, we were focused on what to expect from self storage in 2021 and the Midwest markets with increased demand due to the pandemic.
February 2021 marked the closing of an array of investment vehicles, including Waterton’s $1.5 billion Waterton Residential Property Venture XIV; EJF Capital’s $280 million first Opportunity Zone investment fund; and JBG Smith’s $114.5 million affordable housing fund.
At the 2021 NAHB International Builders’ Show, industry leaders talked about, among other topics, why affordable housing is becoming more popular. And at the annual Mortgage Bankers Association CREF21, experts focused on the relative optimism among multifamily finance, investment and servicing professionals, and what’s changing in the market, overall.
Although we know that construction activity has been impacted by the pandemic, development activity picked up in February, with Shopoff Realty Investments planning to kick off its $90 million luxury condo project in Newport Beach, Calif., RXR Realty topping out One Clinton Park in New Rochelle, N.Y., and MIT opening two newly constructed on-campus communities in Cambridge, Mass.
Here are MHN’s must-reads for last month:
February Rent Collections Hit 79%: NMHC
The latest figures come as Congress considers the federal relief package that includes $30 billion in emergency rental and utility assistance.
Texas Apartment Communities Help Renters Through Crisis
Here’s how property management firms are responding to the severe weather conditions that came to Texas.
Podcast: Moe Vela on Making Your Community Inclusive
The veteran affordable housing developer and former White House official provides tips on tailoring your property’s experience to its audience.
From Luxury to ‘Hygge’: Top Multifamily Interior Design Trends for 2021
Three designers predict what will attract renters in the year ahead.
Where Are New Yorkers Moving To?
The pandemic has fueled a wave of relocations across the five boroughs, with out-migration most prevalent. Here are the top five areas New Yorkers are moving to.
Top 20 Multifamily Mortgage Banking Firms of 2021
More than half the highest-ranking companies are licensed GSE affiliates.
Apartment Marketing Trends: Q&A
Multifamily design and marketing are more aligned than ever, according to Hunington Properties Partner & Senior Vice President Kate Good.
Housing the Workforce Instead of Cubicles: Case Study
The repurposing project that will bring much-needed affordable housing to Orange County.
How Businesses Can Support Women in Times of Crisis
JLL’s Laura Beebe provides tips on how to keep women from downshifting their careers or leaving the workforce due to COVID-19.
Nexus Commercial Realty, Capstone Cos. Merge
By joining forces, Capstone expands its western U.S. presence and Nexus gains a larger national platform.