Prominence
Rents Moderate in the San Francisco Bay
Rates have reached a point where even highly paid workers can’t afford the premium prices, despite the metro’s consistent job expansion, robust resident demand and high home prices.
MHN’s Top 5 July 2017 Articles
Miss out on any MHN stories in July? Here are five of our most popular articles for the month, including the top 10 apartment owners in Atlanta and design trends and products from NAA’s Education Conference & Exposition.
St. Paul Eyes 135-Acre Urban Village
A rezoning plan calls for as many as 4,000 residential units on a site owned by Ford, which is expected to be put on the market by early 2018.
Starlight Launches $1.3B Acquisition Drive
The firm will continue to target Class A properties in the South and West through a new partnership with two institutional investors.
Supply Concerns Bypass Securitized Multifamily: KBRA
The bulk of underlying collateral for Freddie Mac and CMBS multifamily loans is Class B and Class C properties, the bond rating agency reports. KBRA forecasts a positive performance for these assets.
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.
Demand Outpaces Supply in Salt Lake City
Driven by robust population growth and low unemployment, Utah’s largest city is rapidly expanding, generating healthy housing demand. It continues to appeal to major employers, such as Amazon, UPS and big-brand companies based along the Wasatch Front.
PAC Snags Tampa-Area Luxury Property
The purchase of the newly built 280-unit community was financed through a first mortgage loan from Fannie Mae, originated by Berkadia Commercial Mortgage LLC.
FM Capital Acquires Campus Evolution Villages
Located near Georgia Southern University in Statesboro, the 528-bed student housing community is slated for rebranding and enhanced amenities.
Steady Growth Cultivates Building Boom in Columbus
The multifamily market is expanding in the area, which has been an economic standout in Ohio and the Midwest. The metro’s tight labor market is lifting average wages, attracting more residents and bolstering demand for apartments.