After lagging behind the rest of the country in post-recession jobs recovery, the Valley of the Sun has seen considerable gains over the last few quarters.
CBRE Group Inc. announced the appointment of Brian McAuliffe as senior managing director of CBRE’s Multi-Housing Group.
Tricorp Hearn Construction recently celebrated the completion of Foothill Farms Senior Apartments, a $26 million, 138-unit affordable housing facility.
Norris, Beggs arranges a $26.5 million acquisition mortgage; and Boston Capital invests in the rehabilitation of two multifamily apartment communities for seniors in Virginia.
The San Francisco Bay Area remains one of the hottest multifamily markets in the country, with employment in the technology sector serving as a boon for the city’s overall economic climate.
Vacancy in the Seattle metro area hit 4.1 percent in the second quarter of 2012, the lowest rate in over a decade.
MARKET SNAPSHOT: Renting Remains Popular in the East Bay, With Job Growth Fueling Record-Low Vacancies
With employment growth finally taking off in the East Bay, demand for apartments is expected to pace ever-higher this year, as rents skyrocket across the already popular rental market.
With local employment on the rise and median home prices well below the national average, multifamily in Tucson is seeing considerable renewal.
The Denver metro area continues to outpace the rest of the nation in job growth, with employment rising 2.3 percent in the first half of 2012 alone.
Salt Lake City sported one of the lowest metropolitan unemployment rates in the nation at the beginning of 2012–at 6.5 percent, down from 6.9 percent in 2011.