The Latest
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Debt ceiling deal would speed environmental permitting
The tenuous agreement could also advance the Mountain Valley Pipeline and help boost the construction workforce, according to one trade group.
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Greystar launches attainable housing brand
With some built in the company’s newly opened modular factory, Ltd. by Greystar apartments will limit future rent increases for existing residents.
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Q&A
What slowdown? Indiana developer still sees a robust sales market
Though The Garrett Cos. likes to hold properties for three to five years, it's still selling deals when they’re stabilized.
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Nitya CEO defends his track record, charts a path for future growth
After news reports of rising interest payments in his portfolio, Swapnil Agarwal told Multifamily Dive that he’s never lost money on a deal or missed a mortgage payment.
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DEALS + STARTS
$1B mixed-use development planned near Miami
The District in Davie will have 1,256 units at full buildout and cover 2.8 million square feet of residential and retail space.
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Supreme Court narrows WOTUS definition
The high court curtailed the jurisdiction of the federal government under the Clean Water Act while effectively negating a recent Biden administration rule.
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Multifamily sales drop 74% YOY
Prices for apartment properties have fallen 12.1% since last year, but annualized monthly declines are easing.
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PROJECT SPOTLIGHT
Leasing begins at transit-oriented tower in Newark, New Jersey’s Ironbound
Fifty-Five Union aims to foster a cultural connection with the neighborhood through arts and business partnerships.
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PRODUCTS
May 2023 roundup: New multifamily products
Coatings and stone veneers are in the spotlight this month.
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DEALS + STARTS
Inside one owner’s quest to build scale in an Austin suburb
SPI Advisory has acquired a 264-unit property outside Texas’ capital.
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Virginia-based owner plans to add property management services
As other firms have scaled back their management presence, Capital Square is jumping into operations.
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MBA: Multifamily lending to drop 14%
After bank failures and interest rate hikes, apartment originations could fall to $375 billion.
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These are the amenities renters prefer most
The most coveted features include front desk attendants and secure package services, while pools and fitness centers have fallen a few steps.
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Recession likely to start in Q3 as Fed sustains inflation fight: Fannie Mae
The Fed may keep borrowing costs high and trigger a downturn if robust wage gains persist in coming months, Fannie Mae said.
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Q&A
Pennsylvania office developer gets into the conversion game
After adding a residential component to one building in Philadelphia, Keystone is eyeing three similar projects.
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DEALS + STARTS
Affordable senior development underway near Miami
At 410 units, the Douglas Gardens Residences will be the largest property of its kind in Broward County.
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Disney nixes plans to build $1B Orlando office campus
Even as it canceled its Lake Nona project, the company said it still plans to develop 80 acres of land to create affordable housing in the community.
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Visionary apartment owner Sam Zell dies at 81
Multifamily leaders share memories of the real estate trailblazer known as “the grave dancer” for his ability to revive struggling properties.
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REITs report positive momentum
On first quarter earnings calls, executives expressed optimism, though there are pockets of weakness.
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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.
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PROJECT SPOTLIGHT
Eclectic property opens in Washington, DC’s NoMa neighborhood
The Greystar-managed building’s bold facade includes multi-story murals and colorful panels.
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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.
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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.
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REITs defend themselves against RealPage pricing model lawsuit
On recent earnings calls, Equity Residential and Essex Property Trust executives said the allegations in the class-action suit were without merit.