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The multifamily markets where expenses are rising the fastest
While total operating cost growth has slowed somewhat, insurance premiums are increasing, especially in disaster-prone areas.
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S&P puts AIR on watch after Blackstone deal
The rating agency is concerned that the investment manager is “likely to continue to saddle aggressive debt leverage upon its portfolio companies.”
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California manager settles for over $1M in security deposit case
The state attorney general alleges that Arnel Management Co. deducted pre-set cleaning fees regardless of unit condition.
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Hines enters the BTR market
The Houston-based CRE giant believes the sector will thrive during the “higher-for-longer” interest rate environment.
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Q&A
Upcoming 325-unit property spotlights artistry in Huntsville, Alabama
Bordering two historic districts, Stella at Five Points is positioned to take advantage of a changing market.
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DEALS + STARTS
RPM Living pays $85M for Atlanta-area asset
The Austin, Texas-based firm bought the 407-unit apartment complex from Willow Bridge Property Co.
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Q&A
Hillpointe rises to the top
The firm’s fully integrated approach provides a unique competitive advantage, according to co-founder Steven Campisi.
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Greystar, Summit Contracting take top spots on construction lists
Mill Creek Residential and Trammell Crow Residential moved up to the No. 2 and No. 3 spots on the developer chart.
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Rent growth sees largest gain in 20 months
The national average rent rose $8 in March, and demand for units remains strong.
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Biden has proposed ‘the boldest housing plan in a generation,’ his economic advisor says
The plan would expand tax credits for affordable housing developers, a proven way to boost supply, National Economic Advisor Lael Brainard said.
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Rising rental fraud comes at a cost for property managers
Falsified applications have reduced income or increased expenses by at least 10% for most operators, according to a new report.
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Opinion
Survey says operators should focus on community over frills
More than luxurious amenities, renters want to be treated with a welcoming attitude by staff and other tenants, according to a new NMHC report.
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How to ease the path to transit-oriented housing development
Public transportation agencies “just [don’t] have the land resources on hand to make it feasible,” said the author of a recent Urban Institute analysis.
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Blackstone to take AIR private for $10B
The private equity giant plans to invest more than $400 million to maintain and improve the REIT’s existing portfolio.
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Greystar takes the top spot on owners’, managers’ and developers’ lists
Asset Living and RPM Living are No. 2 and No. 3 respectively on the managers’ list, while MAA and Morgan Properties hold the same spots on the owners’ list.
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Multifamily becoming trouble spot for banks
The number of apartment loans at least 30 days past due or in non-accrual has jumped 81%.
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Surge of legislation aims to regulate the multifamily industry
Rent control, housing fees and tenant screening are the subjects of hundreds of bills and rule proposals.
Updated April 9, 2024 -
DEALS + STARTS
Related Group starts $500M tower on Chicago waterfront
400 Lake Shore will replace the abandoned Chicago Spire project with two residential buildings and a new public park.
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Design firm rolls out conversion scorecard
Lamar Johnson Collaborative rates potential adaptive reuse sites based on incentives, building form and function, location and reputation.
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Global investors favor apartment properties
Multifamily is the most preferred sector of all three of CBRE’s global regions, including the Americas, Europe and Asia-Pacific.
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Nearly half of renters still pay by check
A new report says that ACH payments are the top choice when it comes to electronic options.
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Deep Dive
Investors watch, wait for signs of distress
As lenders work with borrowers and bring back “extend-and-pretend” strategies, apartment properties with problem loans aren’t hitting the market.
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Maryland Supreme Court rules against Kushner Cos.
The lawsuit alleges Kushner-owned Westminster Management charged fees above the state’s legal limit.
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GSEs regain their dominance in apartment lending
Fannie Mae and Freddie Mac claimed 58% market share in 2023 after their share fell 39% in 2022.
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DEALS + STARTS
Sold-out condo tower underway at $6B Miami Worldcenter
The 606-unit 600 Miami Worldcenter touts the potential use of its units as short-term rentals.