The Latest
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Tracker
Problem loans: Tracking the biggest multifamily delinquencies of the year
From New York to San Francisco, apartment owners are struggling to pay their lenders. Multifamily Dive rounds up the companies and portfolios that are facing issues.
Updated Nov. 3, 2023 -
2024’s top multifamily events
It’s time to plan for the year to come. Multifamily Dive has you covered with a full list of the industry conferences, expos and meetings on tap for 2024.
Updated Nov. 3, 2023 -
PRODUCTS
November 2023 roundup: New multifamily products
Induction cooktops, an ADA-accessible sink and a variety of services for apartment operators hit the market this month.
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Analysts downgrade 3 REITs on heightened supply concerns
Multiple investment banks have cut Camden, UDR and MAA as bad debt and interest rate increases also pose problems.
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Q&A
Luxury condo owners want ‘full-service homes’
Cocktail bars, coffee lounges, curated furniture packages and more are in demand with high-end buyers, according to designer Linda Zarifi.
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Apartment starts plummet nearly 32%
Completions of new buildings rose 14.3% as supply became a bigger issue in some markets.
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Opinion
NMHC survey reveals renters’ top preferences
Prospects are most drawn to practical features such as air conditioning and in-unit washers and dryers, according to a new report.
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DOJ: RealPage suit should move forward
The Justice Department said the use of a shared algorithm would be illegal under antitrust law if allegations brought by renters are true.
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Q&A
Inside a Midwestern owner’s move into third-party management
Buckingham brings Ian Bingham on board as it continues to explore centralization.
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Retrieved from Fannie Mae on November 20, 2023
Fannie Mae extends Positive Rent Payment program
In just over a year, the program has helped 23,000 renters establish a credit score.
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PROJECT SPOTLIGHT
Ascendant Development expands its Dallas-area footprint
Haven at Mansfield adds 257 units to a strong, high-growth submarket.
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Retrieved from Fannie Mae on November 20, 2023
FHFA reduces lending caps again for Fannie, Freddie
Loans that support workforce housing will be exempt from the volume limits.
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Rents continue falling amid recession concerns
Northeast and Midwest markets are growing, while the West and Sun Belt see rent declines related to new supply.
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MSCI: Apartment sales fall for 14th straight month
Multifamily transactions declined 72% year over year to $6.2 billion, while prices dropped 13.7%.
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DEALS + STARTS
2 Toll properties break ground a week apart in Arizona
With Navona and Lumara underway, the firm’s multifamily division now has four properties and 1,317 units in its Phoenix metro pipeline.
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REIT Report
EQR reports strength on the East Coast
Washington, New York City and Boston thrive, while Seattle and San Francisco struggle.
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Multifamily originations fall 50%
Fannie Mae and Freddie Mac see volume decline 27% in Q3, as underwriting remains difficult and transactions continue to drop.
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Phoenix office-to-apartment conversion goes to foreclosure
The former BMO Harris bank tower could be auctioned later this month after the owner defaulted on a $71.3 million loan.
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Austin, Texas, removes most parking requirements for multifamily buildings
Several U.S. cities have now made this move, citing construction costs and climate concerns.
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REIT Report
Essex sees delinquencies drop in October
The REIT predicts growth potential from tech jobs in its West Coast markets, with limited new supply competition.
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‘Mild recession’ expected to dampen future multifamily deliveries
Tight financing, economic weakness and record levels of new supply are taking a toll on construction estimates, Yardi says.
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Billionaire-planned smart cities in the US: What’s the latest?
To date, most of these grand plans have made little progress and face scrutiny from residents, local governments and states.
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How to integrate the arts into new multifamily projects
Developers are engaging current and potential residents by featuring original work from local artists and offering creative amenities.
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DEALS + STARTS
Landmark assembles 20 parcels for Florida project
The developer is building an 859-unit luxury student housing project in Tallahassee.
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Q&A
Public-private partnerships help fill Indianapolis developer’s pipeline
Flaherty & Collins Properties has carved out a niche as a company that helps Midwestern towns attract new residents.