Transactions: Page 10
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Q&A
Boston-based owner looks to triple its portfolio within the next few years
The Davis Cos. plucked Mai Zhang from JBG Smith Properties to shepherd its apartment growth plans.
By Leslie Shaver • Sept. 5, 2023 -
DEALS + STARTS
Bell adds properties in Texas, Florida and North Carolina
The apartment owner plans to upgrade the properties as it continues to secure financing despite a volatile lending environment.
By Leslie Shaver • Sept. 5, 2023 -
REITs report decelerating rent growth
REITs show strength on the East Coast, but see less growth in the Sun Belt.
By Leslie Shaver • Aug. 31, 2023 -
Sales volume drops 76% YOY to $6B as cap rates hit 5%
Transaction totals in July were also 53% below the $12.7 billion average during the five years before the pandemic, according to MSCI.
By Leslie Shaver • Aug. 29, 2023 -
REIT Report
NexPoint aims to pay off a credit facility with 2 Texas sales
The REIT plans more Sun Belt sales as it seeks to reduce leverage and buy back stock.
By Leslie Shaver • Aug. 29, 2023 -
DEALS + STARTS
Mill Creek adds a property in Colorado
The developer and owner assumed the fixed-rate financing at Modera Art Park, which it bought from Carmel Partners.
By Leslie Shaver • Aug. 28, 2023 -
Waterton returns to Portland, Oregon
After reentering Seattle earlier this year, the owner picked up a 177-unit property in another Pacific Northwest metro.
By Leslie Shaver • Aug. 23, 2023 -
Permits for 5-plus units plummet 32%
While multifamily developers started roughly the same number of projects a year ago, completions fell 23%.
By Leslie Shaver • Aug. 22, 2023 -
REIT Report
Delinquent renters drive expenses 8.5% higher for Camden
Despite evictions and skips, low move-outs to homeownership limit turnover damage for the Houston-based REIT.
By Leslie Shaver • Aug. 21, 2023 -
Trepp: Multifamily CMBS delinquencies rise, but properties in servicing decline
Though the percentage of apartment communities facing financial challenges has risen over the past year, executives still aren’t seeing a lot of distressed sales.
By Leslie Shaver • Aug. 17, 2023 -
REIT Report
Revenue growth boosts AvalonBay
As market conditions slow, the Virginia-based REIT sees an opportunity to pick up land in its expansion metros.
By Leslie Shaver • Aug. 16, 2023 -
Q&A
How Eastwind is navigating Florida’s difficult development market
New legislation combined with interest rate hikes and rising material costs make penciling out new deals difficult, Florida developer says.
By Leslie Shaver • Aug. 15, 2023 -
Opinion
Despite a sobering Q2, the future looks bright for owners, developers
As the second half of the year gets underway, the multifamily sector will remain strong despite several sizable headwinds, writes fund management expert Marshall Boyd.
By Marshall Boyd • Aug. 15, 2023 -
DEALS + STARTS
Pacific Urban makes 21st San Diego deal, continues to see growth opportunities
The apartment owner’s internal research led it to a property in the city’s La Jolla submarket.
By Leslie Shaver • Aug. 11, 2023 -
Q&A
Los Angeles owner launches $1B initiative to buy affordable housing
BH Properties brought in Bill Stoll from Steadfast Cos. to help find new properties that have completed their 15-year compliance period.
By Leslie Shaver • Aug. 10, 2023 -
DEALS + STARTS
Manhattan office tower purchased for $172.5M for apartment conversion
Silverstein Properties, Metro Loft Management and CetraRuddy will redesign 55 Broad Street into 571 apartments.
By Mary Salmonsen • Aug. 9, 2023 -
REIT Report
EQR reports supply pressure in some cities, strong results in others
Though the Chicago-based REIT made a couple of purchases in Q2, it sees a slow transaction market overall.
By Leslie Shaver • Aug. 9, 2023 -
REIT Report
Coastal markets show strength in UDR’s busy Q2
As more than 20% of its sites use staff-less technology, the REIT continues to focus on customer experience.
By Leslie Shaver • Aug. 7, 2023 -
Trilogy buys ZOM development during construction for nearly $86M
The Azalea Apartments are in an Opportunity Zone 15 minutes east of Tampa’s downtown.
By Leslie Shaver • Aug. 3, 2023 -
REIT Report
MAA begins to see expense relief
A new law in Texas should offer property tax savings, but new supply remains a concern in some areas.
By Leslie Shaver • Aug. 2, 2023 -
DEALS + STARTS
Northland makes ninth acquisition in Georgia since entering the state in 2020
The company assumed existing financing on Glenwood at Grant Park.
By Leslie Shaver • Aug. 1, 2023 -
Multifamily firms announce new hires, despite layoffs at others
Eastwind, NRP and Ashland Greene, among others, have beefed up their teams in recent weeks.
By Leslie Shaver • Aug. 1, 2023 -
RMR Group to acquire Carroll for $80M
With the all-cash purchase, asset manager RMR enters the only major commercial real estate sector in which it did not already have a significant presence.
By Jennifer Goodman , Leslie Shaver • July 31, 2023 -
Apartment starts fall 11.2% YOY
Permits fell 33%, while completions of five or more units also declined in June.
By Leslie Shaver • July 28, 2023 -
Rate hike will put pressure on some multifamily assets
Policymakers chose to raise interest rates to a range between 5.25% to 5.5% — the highest since 2001.
By Leslie Shaver • July 27, 2023