Prominence
Gorman Lands $22M Refi for CO Asset
Walker & Dunlop arranged the atypical eight-year, fixed-rate term loan to refinance Lion’s Ridge Apartment Homes, a 114-unit workforce housing community at the foot of Vail Ski Resort.
High-Paying Jobs Add to Upscale Demand in Richmond
Although overall employment growth is tepid and continues to trail the national rate, the metro’s economy is slowly but steadily diversifying, drawing investors and large projects.
Job Growth Firm, Rent Growth Totters in Portland
The metro’s strong employment growth is pushing up multifamily demand, especially for market-rate apartments. Nearly 8,400 units were underway as of August, of which some 3,200 units are slated to come online by December.
New Supply Tempers Rent Growth in San Antonio
The metro’s economy continues to appeal to both investors and developers. Upcoming supply is robust, with more than 8,000 units under construction and another 10,000 in the planning stage.
Orlando Apartments Command $47M
TruAmerica continues its East Coast expansion with the acquisition of the 300-unit Arium Falcon Pines in Orlando. The company is planning on making a multimillion-dollar renovation to the property.
SoCal Delivers for Investors in San Diego
The metro benefits from a strong talent pool, renowned universities and its ever-growing biotechnology sector. Inventory is expected to expand significantly in the coming years, given the city’s robust multifamily pipeline and recent pro-development legislation.
Rapid Job Gains Reshape Tampa
Solid fundamentals and above-trend employment growth spur demand for multifamily product across the metro, leading to significant rent increases. Transaction volume is also robust, while deliveries are expected to hit a cycle peak by the end of the year.
What Scares Your Residents?
When it comes to living in an apartment, ghosts don’t scare residents—but cockroaches, that’s another story. In honor of Halloween, MHN and Kingsley Associates explore what about your community makes your residents afraid.
MG Properties Acquires $58M Vegas Community
The company purchased the 432-unit Bristol at Sunset from Kennedy Wilson. CBRE arranged a $39.4 million acquisition loan through Fannie Mae on behalf of MG Properties Group.
IMT Capital Snags TN Community
The company purchased the 386-unit ALARA Cool Springs, located in the Nashville submarket of Franklin, from American Realty Advisors. Cushman & Wakefield represented the seller in the transaction.