Transactions: Page 9

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

    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 • Aug. 29, 2023
  • Business people shaking hands.
    Image attribution tooltip
    SunnyVMD via Getty Images
    Image attribution tooltip
    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 • Aug. 29, 2023
  • Grey, modern apartment building
    Image attribution tooltip
    Permission granted by Mill Creek Residential
    Image attribution tooltip
    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 • Aug. 28, 2023
  • Tan, brick apartments with the words "The Parker" above the entrance.
    Image attribution tooltip
    Permission granted by Waterton
    Image attribution tooltip

    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 • Aug. 23, 2023
  • Crane and building under construction against blue sky
    Image attribution tooltip
    unkas_photo via Getty Images
    Image attribution tooltip

    Permits for 5-plus units plummet 32%

    While multifamily developers started roughly the same number of projects a year ago, completions fell 23%.

    By • Aug. 22, 2023
  • Wall Street sign
    Image attribution tooltip
    kevinjeon00 via Getty Images
    Image attribution tooltip
    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 • Aug. 21, 2023
  • delinquent loan inscription, calculator and money
    Image attribution tooltip
    designer491 via Getty Images
    Image attribution tooltip

    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 • Aug. 17, 2023
  • Photo of stock exchange letters.
    Image attribution tooltip
    Pgiam via Getty Images
    Image attribution tooltip
    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 • Aug. 16, 2023
  • White apartment building with palm trees in the foreground.
    Image attribution tooltip
    Permission granted by Eastwind Development
    Image attribution tooltip
    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 • Aug. 15, 2023
  • A block of apartment complexes
    Image attribution tooltip
    Arturo Rosenow via Getty Images
    Image attribution tooltip
    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
  • Entry to tan apartment community with tree-lined street in the foreground.
    Image attribution tooltip
    Permission granted by Pacific Urban Investors
    Image attribution tooltip
    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 • Aug. 11, 2023
  • Brick apartment building with grass in the foreground.
    Image attribution tooltip
    Permission granted by BH Properties
    Image attribution tooltip
    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 • Aug. 10, 2023
  • A view of an office building from below, surrounded by other tall towers.
    Image attribution tooltip

    Joe Woolhead

    Image attribution tooltip
    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 • Aug. 9, 2023
  • A colorful stock market ticker
    Image attribution tooltip
    lucadp via Getty Images
    Image attribution tooltip
    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 • Aug. 9, 2023
  • View from the the ground looking up at high rises and Wall St. and Front St. signs.
    Image attribution tooltip
    franckreporter via Getty Images
    Image attribution tooltip
    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 • Aug. 7, 2023
  • Grey, 40-stroy apartment with pool and palm trees in the foreground.
    Image attribution tooltip
    Permission granted by Trilogy Real Estate Group
    Image attribution tooltip

    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 • Aug. 3, 2023
  • American flags in front of marble building
    Image attribution tooltip
    lucky-photographer via Getty Images
    Image attribution tooltip
    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 • Aug. 2, 2023
  • White and brown five-story apartment buildings with street in front and to the right.
    Image attribution tooltip
    Permission granted by Northland
    Image attribution tooltip
    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 • Aug. 1, 2023
  • Two hands locked in a shake
    Image attribution tooltip
    SunnyVMD via Getty Images
    Image attribution tooltip

    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 • Aug. 1, 2023
  • Blocks spell M and A
    Image attribution tooltip
    Nastassia Samal via Getty Images
    Image attribution tooltip

    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 , • July 31, 2023
  • A red construction frame in front of a high-rise building under construction.
    Image attribution tooltip
    JARAMA via Getty Images
    Image attribution tooltip

    Apartment starts fall 11.2% YOY

    Permits fell 33%, while completions of five or more units also declined in June.

    By • July 28, 2023
  • The words Federal Reserve engraved in a marble building with an eagle above.
    Image attribution tooltip
    Douglas Rissing via Getty Images
    Image attribution tooltip

    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 • July 27, 2023
  • an aerial view of an apartment building
    Image attribution tooltip
    iStock/Getty via Getty Images
    Image attribution tooltip

    The apartment industry battles insurance price hikes

    As costs jump 100% or more in some states, multifamily leaders look for solutions. 

    By Multifamily Dive Staff • July 26, 2023
  • Apartment high-rise with floor-to-ceiling glass units.
    Image attribution tooltip
    Permission granted by The RADCO Cos.
    Image attribution tooltip
    Q&A

    RADCO exec discusses plan to reach 25,000 units

    Centralization and AI will play key roles as the Atlanta-based company looks to grow through acquisitions, says Chris Simon.

    By • July 25, 2023
  • Houses in a shopping cart and easel red prohibition sign NO.
    Image attribution tooltip
    Andrii Yalanskyi via Getty Images
    Image attribution tooltip

    MSCI: Sales volume plummets 72%

    Apartment prices fell 11.7% in Q2, which was the biggest decline among all major commercial property sectors.

    By • July 24, 2023