Transactions: Page 11

  • One set of hands hold calculator. Another set of hand holding a pen.
    Image attribution tooltip
    ArLawKa AungTun via Getty Images
    Image attribution tooltip

    MBA: Multifamily lending to drop 14%

    After bank failures and interest rate hikes, apartment originations could fall to $375 billion.

    By • May 22, 2023
  • The Space Needle stands over the Seattle skyline as Mt. Rainier is seen in the background
    Image attribution tooltip
    John Moore via Getty Images
    Image attribution tooltip
    REIT Report

    Essex predicts rebound in West Coast markets

    Although it is monitoring other areas for expansion, the REIT is comfortable with its regional focus, according to CEO Angela L. Kleiman.

    By • May 17, 2023
  • Grey apartment community clubhouse next to a pool.
    Image attribution tooltip
    Permission granted by ECI Group
    Image attribution tooltip
    DEALS + STARTS

    Georgia sale signals a market shift for older properties

    ECI Group explains why its strategy has evolved as the era of low cap rates for aging assets comes to an end.

    By • May 16, 2023
  • In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Troubled loans backing Veritas’ San Francisco portfolio hit the market

    Even as the percentage of CMBS securitizations becoming delinquent and going into servicing falls, observers expect problems to mount later in the year.

    By • May 16, 2023
  • People walk down Wall Street January 22, 2008 in New York City
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip
    REIT Report

    Camden’s move-outs to homeownership drop amid strong rent growth

    Even though more than 400,000 new units are expected to hit its markets in the next two years, the REIT downplayed the impact of new supply on a recent earnings call.

    By • May 15, 2023
  • Grey and white high rise apartments with palm trees below.
    Image attribution tooltip
    Permission granted by Forman Capital
    Image attribution tooltip
    DEALS + STARTS

    Private lender acquires the note for a Neology site in Miami

    The acquisition shows how developers can finance projects even as traditional bank lending stalls.

    By • May 11, 2023
  • A tour bus passes the Wall Street bull.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip
    REIT Report

    As development projects are abandoned, AVB sees an opportunity to buy land

    The REIT is partnering with third-party apartment builders and offering mezzanine loans for construction.

    By • May 10, 2023
  • Aerial view from skyline with skyscrapers in Brooklyn downtown New York on the Hudson river
    Image attribution tooltip
    photovs via Getty Images
    Image attribution tooltip
    DEALS + STARTS

    Nuveen nabs 12,000 affordable housing units

    The investment manager for TIAA purchased the New York City-centric portfolio from Mo Vaughn’s Omni Holding Co.

    By • May 10, 2023
  • Five-story apartment building surrounding a pool.
    Image attribution tooltip
    Permission granted by Centerspace
    Image attribution tooltip
    Q&A

    Centerspace’s new CEO outlines her priorities

    Anne Olson’s first focus will be property operations and centralization.

    By • May 9, 2023
  • Modern bank glass building.
    Image attribution tooltip
    -slav- via Getty Images
    Image attribution tooltip

    Bank failures make construction loans even more challenging

    The lending environment has grown more treacherous after last year’s interest rate hikes and could dampen new starts by 60%, according to Ric Campo.

    By • May 8, 2023
  • A Wall St. sign next to the New York Stock Exchange
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip
    REIT Report

    UDR reports same-store NOI growth of 11.7%

    Executives noted that new supply is forcing concessions in certain Southeastern markets.

    By • May 5, 2023
  • New grey apartment community
    Image attribution tooltip
    Permission granted by Alliance Residential
    Image attribution tooltip

    The multifamily industry’s top firms

    From syndicators and owners to builders and managers, these rankings from the National Multifamily Housing Council are much anticipated each year.

    By • May 4, 2023
  • A man walks by the New York Stock Exchange (NYSE) in New York City.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip
    REIT Report

    3 trends driving MAA’s performance

    The REIT’s portfolio is insulated from new supply, CEO Eric Bolton said on last week’s earnings call.

    By • May 3, 2023
  • A sign for a First Republic bank branch.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    Failed First Republic was San Francisco’s most active apartment lender

    In Q1, the bank financed eight deals, constituting 40% of San Francisco’s volume, according to Colliers.

    By • May 2, 2023
  • Cars and grass in the foreground with an apartment community in the distance.
    Image attribution tooltip
    Permission granted by Post Road
    Image attribution tooltip

    Post Road Management adds 1,002 units in Kansas

    After acquiring 11 properties in Wichita, the firm operates over 16,000 units across 13 states.

    By • May 1, 2023
  • Photo of stock exchange letters.
    Image attribution tooltip
    Pgiam via Getty Images
    Image attribution tooltip
    REIT Report

    Equity Residential’s same-store revenue is better than anticipated

    New York posts 19% growth, but California floods drive up expenses and San Francisco and Seattle struggle with concessions.

    By • April 28, 2023
  • Photo of a invoice with past due stamp
    Image attribution tooltip
    webking via Getty Images
    Image attribution tooltip

    MBA: Multifamily mortgage delinquency rates increased in Q1

    The apartment sector still has fewer problem loans than other CRE asset classes.

    By • April 28, 2023
  • House model with agent and customer discussing for contract to buy.
    Image attribution tooltip
    Perawit Boonchu via Getty Images
    Image attribution tooltip

    Multifamily prices drop more than other CRE sectors

    Apartment sales volume fell 64% from last year’s record high.

    By • April 24, 2023
  • U.S. Capitol with grey sky in the background.
    Image attribution tooltip
    Douglas Rissing via Getty Images
    Image attribution tooltip

    Report: Prepare for a debt ceiling crisis

    J.P. Morgan recommends that owners have a cushion and try to refinance to prepare for potential economic shockwaves over the U.S. debt limit.

    By • April 24, 2023
  • A tall, brick apartment building in New York City.
    Image attribution tooltip

    Screenshot: Google Maps

    Image attribution tooltip
    DEALS + STARTS

    One of New York City’s last women-only apartment buildings sells for $52M

    Brooklyn-based Educational Housing Services now owns the 376-unit Webster Apartments in midtown Manhattan.

    By • April 24, 2023
  • Closeup of a Houston map with a red pin.
    Image attribution tooltip
    zimmytws via Getty Images
    Image attribution tooltip

    Texas foreclosures foreshadow Class C troubles

    The Applesway Investment Group portfolio suffered from neglect and changing market conditions.

    By • April 24, 2023
  • Three-story apartments with parking lots and cars in the foreground.
    Image attribution tooltip
    Permission granted by Beacon Real Estate Group
    Image attribution tooltip
    DEALS + STARTS

    Beacon nabs 2 newly completed projects

    The company adds to its portfolio with two projects near Atlanta.

    By • April 19, 2023
  • Customer signing contract
    Image attribution tooltip
    Natee Meepian via Getty Images
    Image attribution tooltip

    CBRE: Apartment going-in cap rate expansion slowing

    Underwriting is beginning to stabilize after three quarters of increases of more than 35 basis points.

    By • April 18, 2023
  • An apartment building at sunset.
    Image attribution tooltip
    deepblue4you via Getty Images
    Image attribution tooltip

    Multifamily CMBS delinquencies, servicing transfers continue to rise

    The percentage of loans transferred has nearly doubled over the past year.

    By • April 14, 2023
  • A white building with two terraces flanking a room with large windows and white furniture.
    Image attribution tooltip
    Permission granted by Naftali Group/DBOX
    Image attribution tooltip
    PROJECT SPOTLIGHT

    Madison Avenue tower’s quadruplex penthouse sells for $67.8M

    The Bellemont, designed by Robert A.M. Stern Architects, comprises 11 sold-out units on New York’s Upper East Side.

    By • April 13, 2023