The Latest
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Tracker
Problem loans: Tracking the biggest multifamily delinquencies
Recent distressed transactions involve major players, including Greystar, UDR and Mill Creek.
Updated March 14, 2024 -
2024’s top multifamily events
It’s time to plan for the year ahead. Multifamily Dive has you covered with a full list of the industry conferences, expos and meetings in 2024.
Updated Feb. 20, 2024 -
REITs see hurdles for new acquisitions
With asking cap rates still around 5% in many markets, most executives think sellers need to adjust prices.
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EXECUTIVE MOVES
Capital Square names Jay Olander as president and CFO
A 40-year real estate veteran, Olander will also serve as CFO and treasurer of Capital Square’s REIT.
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Shoreham Capital sells SFR community near Orlando, Florida
The developer went under contract over two years ago with a state pension fund for the 175-home community.
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PROJECT SPOTLIGHT
Hoboken Point caters to NYC-area ‘hybrid’ professionals
The Weehawken, New Jersey, property that will be managed by Greystar includes a 5,200-square-foot coworking center.
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More Veritas apartments hit the market in San Francisco
The owner has defaulted on $1 billion worth of loans that were backed by more than 2,450 apartments across the city.
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Family of man slain at DC apartment files $25M lawsuit against owner, manager
The suit alleges CIH Properties did not provide adequate security at the complex.
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FTC, DOJ argue against dismissal of Yardi antitrust case
The agencies contend that competitors must not agree to advertised list prices, even if actual rents vary from that starting point.
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FCC proposal would eliminate broadband bulk billing arrangements
If approved, multifamily housing companies would not be able to choose an internet, cable or satellite provider for a property.
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DEALS + STARTS
Blighted New Jersey tower changes hands
Hudson Valley Property Group worked for two years to cobble together financing to close the 21-story Northgate Apartments in Camden.
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PROJECT SPOTLIGHT
New Florida apartment designed as a ‘neighborhood social hub’
Society Orlando’s common areas include a 50,000-square-foot pool deck and a lobby with a public bar.
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Powell predicts commercial real estate woes will most afflict smaller banks
The Fed, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.
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Nearly 50 banks have multifamily loan issues
At the end of 2023, 49 financial institutions had apartment nonperforming loans greater than 5% of total multifamily loans, according to a report from Fitch Ratings.
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NAHB: Multifamily starts will continue to decline in 2024
New construction is expected to drop 20% this year, while rents should fall as supply comes online, the association said.
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Dallas, Atlanta lead the way for apartment sales
Both metros held the top spots despite transaction declines of more than 50%, while Chicago and New York City’s boroughs moved into the top five.
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Some employers consider offering help with housing payments
One in four employees say they would switch jobs to gain this benefit.
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Arizona AG sues RealPage, multiple landlords
The state alleges that the firm’s revenue management software compiles competitively sensitive lease data on pricing and occupancy.
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Multifamily developer confidence remains negative
Tight lending standards and high loan costs have put pressure on the industry.
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Supply chain headaches persist 4 years into pandemic
As the fourth anniversary of COVID-19’s arrival in the U.S. nears, contractors are still dealing with challenges around materials pricing and availability.
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DEALS + STARTS
Landmark breaks ground on 1,286 beds near University of Southern California
The Standard at Los Angeles is the developer’s second student housing project in the city.
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Multifamily originations fall
New loans declined 46% in 2023 and 27% in Q4, according to new reports.
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Pretium acquires BH Management Services
The Des Moines, Iowa-based No. 8 apartment operator in the country has a portfolio of multifamily, student and single-family housing.
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PROJECT SPOTLIGHT
Structured Development completes multiphase project in Chicago’s Lincoln Park
Wendelin Park encompasses three types of properties: co-living, affordable-rate for-sale condos and market-rate rentals.
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Deals + Starts: February 2024
Fifield, Universe Holdings, Moinian Group, JPI and others were in the news this month.