Multi-Housing News

10/05/2023

A short list of recent major investment sales and financings from coast to coast.

10/05/2023

AAA Management has secured a $99.4 million debt and preferred equity package to back the construction of the 302-unit Ion Aero project in San Diego. Bank OZK provided nearly $65.4 million in debt, while Pacific Urban provided nearly $34 million in preferred equity.

The developer will start construction on the eight-story property this year. AAA Management has secured financing totaling $99.4 million for a 302-unit project in San Diego.

10/05/2023

Rent payments cover salaries, utilities, vendors, repairs and more. This is why effectively managing delinquency is critical.

10/05/2023

Today! Join us today at 1 p.m. ET to learn strategies for maximizing NOI, identifying opportunities and determining the best amenities for your residents.

Join us Thursday at 1 p.m. ET to learn strategies for maximizing NOI, identifying opportunities and determining the best amenities for your residents.

10/04/2023

Don't miss out on the chance to participate in the 2024 Top Mortgage Banking Firms survey.

Don't miss out on the chance to participate in the 2024 Top Mortgage Banking Firms survey. The deadline for submissions is Thursday, Oct. 26.

10/04/2023

Join us tomorrow at 1 p.m. ET to learn strategies for maximizing NOI, identifying opportunities and determining the best amenities for your residents.

Join us Thursday at 1 p.m. ET to learn strategies for maximizing NOI, identifying opportunities and determining the best amenities for your residents.

10/04/2023

Inland Real Estate Investment Corp.’s private real estate arm, Inland Venture Partners, has acquired Leisure Valley, a manufactured housing community totaling 125 RV sites in Casa Grande, Ariz. The property changed hands for $7 million, according to Pinal County public records. The investment was made through IVP’s MH Ventures Fund II, a $160 million manufactured housing offering focused on the acquisition and management of mobile communities and RV communities.

Inland Venture Partners has acquired a manufactured housing community totaling 125 RV sites in Casa Grande, Ariz., for $7 million.

10/04/2023

Larken Associates' Melissa Nascimento and Jessica Heckman discuss how their teams work together to build a competitive and tech-forward brand.

Larken Associates’ Melissa Nascimento and Jessica Heckman discuss how their teams work together to build a tech-forward brand.

10/04/2023

Enterprise Community Partners has closed on financing for two affordable communities in Silver Spring, Md. This included funds for the renovation of Park Montgomery, a 141-unit property, and for the construction of a new, 76-unit asset called Park Montgomery West.

Soto Architecture & Urban Design provided the designs, while Harkins Builders serves as general contractor. Enterprise Residential will serve as property manager.

Enterprise Community Development has closed on financing Park Montgomery, a 217-unit affordable project in Silver Spring, Md.

10/04/2023

After both rents and occupancy contracted last winter, the Baltimore multifamily market is recalibrating and returning to a healthier pace, with rates on an upswing and occupancy picking up slightly. The average rent was up 50 basis points on a trailing three-month basis through June, while occupancy in stabilized assets slid 1.0 percent over 12 months, improving from the 1.4 percent recorded in February.

Yardi Matrix's latest Baltimore multifamily report features a snapshot of the area's rent, employment, construction and sales activities.

10/03/2023

Looking for some spooky seasonal inspiration? We've got you covered!

10/03/2023

Tandem Partners has completed a luxury mixed-use high-rise building in Chicago, in collaboration with KTGY and Antunovich Associates, which designed the asset. Sage West Loop comprises 196 units, as well as 1,806 square feet of retail space. The developer secured a $58.5 million HUD construction loan in April 2022, provided by Lument, according to Yardi Matrix data.

Tandem completed a 196-unit luxury property in Chicago. The community also offers 1,806 square feet of retail space.

10/03/2023

New York City's stringent regulations will stay intact, but opponents vow to keep battling.

New York City's stringent regulations will stay intact, but opponents vow to keep battling. The U.S. Supreme Court has refused to hear a case challenging New York City rent stabilization laws.

10/02/2023

Executives from Windsor Communitiess, DB Capital Management, Village Green Management, CP Capital US and The Bainbridge Companies weigh in on the marketing practices that company leaders value most.

Executives from Windsor Communities, DB Capital Management, Village Green, CP Capital US and The Bainbridge Cos. weigh in on the marketing practices that company leaders value most.

10/02/2023

AHV Communities has commenced leasing at Frame Med Center, a 174-unit, single-family rental community in San Antonio. The community comprises two- to four-bedroom duplex townhomes ranging from 1,140 to 1,660 square feet, with prices starting at $2,289. Capstone Real Estate Services is providing management and leasing services at the property.

AHV Communities has commenced leasing at Frame Med Center, a 174-unit single-family rental community in San Antonio.

10/02/2023

After a slow year, the city is showing signs of a slight rebound.

Yardi Matrix's latest Las Vegas multifamily report features a snapshot of the area's rent, employment, construction and sales activities.

10/02/2023

The Drew Co. has completed SkySail at Driftway, a 78-unit luxury community in Scituate, Mass. CUBE 3 Studio served as main architect and Dellbrook JKS as general contractor.

The Drew Co. has completed SkySail at Driftway, a 78-unit transit-oriented luxury community in Scituate, Mass.

10/02/2023

Columnist Lew Sichelman on the program that awarded grants and loans for sustainable projects at 28 properties.

10/01/2023

🌟 In Case You Missed It: A Top Story of the Week

RADCO Cos.' Norman Radow on how antiquated metrics make a recession probable.

RADCO Cos.' Norman Radow on how antiquated metrics make a recession probable.

09/30/2023

🌟 In Case You Missed It: The Top Story of the Week

King Properties has purchased Kelby Farms, a 277-unit multifamily community in Durham, N.C., from Woodfield Development for $84.7 million, or $305,957 per unit. Marcus & Millichap brokered the transaction, with Senior Associate John Daly representing the buyer.

King Properties has purchased Kelby Farms, a 277-unit multifamily community in Durham, N.C., for $84.7 million or $305,957 per unit.

09/29/2023

Services for the UnderServed - S:US and Bronx Pro have topped off Starhill Phase I, a 326-unit affordable housing community in the Bronx.

Services for the UnderServed and Bronx Pro have topped off a 326-unit affordable housing community New York City’s the Bronx.

09/29/2023

Scarcity of capital in multifamily is driving developers toward alternate and niche funding sources. As a result, preferred equity, a once-sidelined mode of financing, is attracting new investors due to the higher-than-average returns it offers them.

This tried-and-true financing tool is having a resurgence.

09/29/2023

Sovereign Properties and Invest Capital Group have completed Atlantica at Town Center’s first phase, a 360-unit rental project in Davenport, Fla. The second phase is set to break ground later this year, with completion by late 2024, adding another 352 apartments.

Sovereign Properties and ICG celebrated the first phase of a development in Davenport, Fla. The community offers 360 units.

09/28/2023

The October Digital Edition of MHN is now available!

Don't miss fresh insights into this month's featured topics.

Don’t miss fresh insights into this month’s featured topics.

09/28/2023

You don't have to be a pop megastar or a Super Bowl winner to benefit from this kind of marketing. (Though, if you are, it couldn't hurt.) But you can learn from them to boost your brand!

09/28/2023

The public-private partnership between Standard Communities and Pacific Southwest Development Corp. acquired six fully affordable communities, encompassing 407 units, in Los Angeles County. The transaction has a total capitalization of approximately $122 million.

Standard Communities and Pacific Southwest Development Corp. acquired six fully affordable communities in Los Angeles County.

09/28/2023

Looking to improve employee retention? One way to do this is to help your employees avoid burnout. The MHN Executive Council previously shared how to support your team’s mental health. Here are a few more of their suggestions!

Strategies to improve employee retention and avoid worker burnout.

09/27/2023

No longer just an oil and gas town, the city is challenging old assumptions. Its multifamily market is, too.

09/27/2023

Community Preservation Partners has purchased Mountain View II and III, two affordable housing communities in Albuquerque, N.M., for $22.3 million. JL Gray Co. sold the assets, according to Yardi Matrix information. The company had acquired the communities last year from Monarch Properties.

Community Preservation Partners has purchased Mountain View II and III, two affordable communities in Albuquerque, N.M., for $22.3 million.

09/27/2023

Experts weigh in on how best to outfit these in-demand properties.

Experts discuss interior design at BTR and SFR projects, which are among multifamily's most in-demand asset classes.

09/27/2023

Preleasing at Yardi 200 universities reached 94 percent in August.

Student housing preleasing reached 94 percent in August. Read more about the latest updates on the sector, based on Yardi Matrix data.

09/26/2023

Basis Industrial has received an $8.3 million construction loan for the development of a 645-unit self storage facility in Detroit. In a transaction arranged by Berkadia, Old National Bank provided the financing for the 78,187-square-foot property, which will be managed by Public Storage.

Basis Industrial received an $8.3 million loan from Old National Bank for the development of a 645-unit self storage facility in Detroit.

09/26/2023

Atlanta’s fundamentals remained soft in mid-2023. Rent growth rebounded slowly, up just 0.1 percent on a trailing three-month basis through June, to an overall average of $1,694. Annual movement remained negative, down 1.1 percent, while the U.S. average rose 1.8 percent. Cooling demand was reflected in the occupancy rate in stabilized properties, which decreased by 120 basis points year-over-year, to 93.3 percent.

Read the full report at the link in bio.

Yardi Matrix's latest Atlanta multifamily report features a snapshot of the area's rent, employment, construction and sales activities.

09/26/2023

A joint venture of Tricon Residential, Foremost Pacific Group and Woodbridge Pacific Group has opened Tricon Wildomar, a 170-unit, built-to-rent community in Wildomar, Calif. Yardi Matrix data shows that the property was built using a $38 million construction loan from Flagstar Bank, originated in 2022.

A joint venture of Tricon Residential, Foremost Pacific Group and Woodbridge Pacific Group opened Tricon Wildomar, a 170-unit BTR community.

09/26/2023

Columnist Lew Sichelman on why multifamily concessions are increasing.

09/25/2023

The next webinar in our MHN Voices series will cover the dynamic student housing sector. You’ll hear insights from industry leaders on how to effectively grow and manage your SFR portfolio.

09/25/2023

Breaking Ground and Community Healthcare Network have started construction on Sutphin Senior Residence, a 173-unit affordable senior housing development in New York City’s Queens borough.

Breaking Ground and Community Healthcare Network have started construction on a 173-unit affordable senior housing development in Queens.

09/25/2023

In an effort to alleviate New York City’s housing crisis, Mayor Eric Adams has proposed a set of reforms representing the most substantial zoning changes the Big Apple has seen in decades.

Mayor Eric Adams’ proposed housing reforms aim to squeeze every unit possible out of the city’s five boroughs.

09/24/2023

🌟 In Case You Missed It: A Top Story of the Week

TruAmerica Acquires SoCal Community for $103M

Deal surmounts challenging financing market. TruAmerica has acquired a property in Southern California near Santa Ana College.

09/23/2023

🌟 In Case You Missed It: The Top Story of the Week

Multifamily Weighs In on Another Rate Pause

Industry veterans weigh in on how accurately the markets priced in this pause and where multifamily is left off now.