Deals + Starts: September 2024

Firms including Timberlane Partners and LRE Management made news in recent months.

7-property portfolio heads to servicing amid insurance troubles

Wisconsin-based Trinity Flood was the sponsor of the properties in Illinois, Georgia and Arizona.

September 2024 roundup: New multifamily products

Extra-large surfaces and innovations in EV charging are in the spotlight this month.

Invitation Homes settles 3-year FTC investigation for $48M

The Dallas-based rental home provider is accused of charging junk fees, deceptive pricing, inspection issues and unfair eviction practices.

Inside AvalonBay’s centralization initiatives

Under the REIT’s neighborhood model, services can be shared for up to 1,500 units. 

Aggressive tenants, mental health are top challenges for property managers

While most apartment managers are satisfied with their work, they also report impacts on their well-being, according to a new report.

NAHB: Apartment completion time flat in 2023

The construction cycle rose 3.5 days in 2023 after jumping 2.3 months in 2022.

Bank forecloses on Chasen’s office conversion in Baltimore

The developer planned to turn the historic One Calvert Plaza into 173 apartments.

Research points to the downsides of rent control

A new review of over 100 studies shows a variety of negative impacts around policies that regulate rent.

2024’s top multifamily events

Multifamily Dive has you covered with a full list of the industry conferences, expos and meetings for the rest of the year.

Updated April 30, 2024

Timberlane Partners pays $40.5M for Denver deal

The Seattle-based firm faced competition to secure the property, where it plans a light renovation.

Apartment starts drop 6% YOY

In a sign that supply is burning off, completions in August jumped 80%, while projects under construction fell 15%.

U.S. Development completes mixed-use project in Philadelphia’s Fishtown

The industrial-style Frankford Grand opened for leasing on Sept. 18.

Fed cuts rates, but is more needed?

Apartment industry leaders say the central bank’s action had already been baked into the 10-year Treasury.

Family of woman killed in Maryland apartment fire sues property manager

The wrongful death lawsuit seeks $2.3 million from the owner and operator of Arrive Silver Spring.

Troubled Aurora, Colorado, apartments draw national attention

While management claimed that gangs took over its properties this summer, residents and city officials highlighted multiple code violations.

30-story student housing tower rises from infill lot in Austin

Located near The University of Texas at Austin, MDL Group’s Icon will be open for the 2025 school year.

Developers look for deals on dirt

Generational property owners are in a position to wait, while those who have recently purchased land may be more motivated to sell.

Amherst Group names new general counsel

Peter Campbell was previously in the same role for Lendlease in the Americas.

New York-based firm makes $102M bet on Atlanta through new fund

LRE Management also added PGA golfer Patrick Cantlay as a member of its advisory board.

Owners of more than 8,000 units sue NJ town over new fees

Among other requirements, landlords in Edison must pay $100 per unit per year.

Minnesota bans pot smoking, vaping in multifamily properties

The restriction, which went into effect this summer, does not apply to approved medical use.

Gindi Equities makes $13.5M sale in North Carolina

The New York City firm originally bought the Cedar Ridge Apartments in 2021.

Lynd assigned an 11,000-unit portfolio

The original owners purchased the 50 properties as a value-add play but ran into problems when interest rates rose and costs increased.

New Mast Capital Florida property caters to nearby healthcare workers

The Harlow is located next to a new $250 million hospital in Wesley Chapel, Florida.