Property Types Multi-Family
The News: Tumbling Single Family Home Prices Negatively Affects Seniors Housing
Jan. 06, 2009
Falling single-family home prices continued to have a negative impact on the seniors housing market, particularly in the independent-living subsector, according to a recent Marcus & Millichap Real Estate Investment Services Inc. report that measured seniors housing metrics from the second quarter of 2007 to the second quarter of 2008.
The Expert: Debt, Equity & Property Pricing
Jan. 06, 2009
Government agencies continue to be the primary source of financing for multi-family assets, and though both Fannie Mae and Freddie Mac have been consistently widening their spreads, in part to offset the plummeting indices, they remain the most consistent and competitive source of capital in the commercial real estate market.
Education Realty Nabs $222M
Jan. 06, 2009
Student housing REIT Education Realty Trust Inc. has closed a $222 million secured credit facility, courtesy of Fannie Mae DUS lender Red Mortgage Capital Inc., and is wasting precious little time making use of the proceeds.
Post Continues $360M Disposition Plan with Atlanta M-F Sale
Dec. 31, 2008
In its third quarter earnings report issued last month, Post Properties Inc. noted that it would sell six assets with the hope of pocketing approximately $360 million, and with today's news of the disposition of Post Lenox Park in Atlanta, the company has one down, five more to go.
International Groups to Tackle Affordable Housing as Global Real Estate Challenge
Dec. 29, 2008
On a global level, there are no geographical boundaries when it comes to affordable housing shortages. And with that topic in mind the United Nations Economic Commission for Europe recently held a seminar in New York City along with its Real Estate Market Advisory Group and the International Real Estate Federation to address the affordable housing issue and the role it can play in rebuilding the real estate market.
'Edge Cities' Set to Move to Forefront
Dec. 24, 2008
At first glance, it may appear that the country’s largest cities will reap the biggest benefits under President-elect Barack Obama’s planned infrastructure initiatives, partially due to his connections to metropolitan areas like Chicago. But according to urban planner Douglas McCoach, vice president of planning and urban design for global design firm RTKL Associates Inc., perimeter suburban and exurban areas surrounding large U.S. cities--locations he describes as "edge cities"--may gain the most from new infrastructure funding.
The News: Military-Housing Outlook
Dec. 23, 2008
Bruce Robinson, president & CEO of Balfour Beatty Communities L.L.C.—a developer and operator of military privatization housing projects for the Army, Navy and Air Force—talked recently about military-housing trends and the sector’s 2009 outlook.
The Expert: San Francisco Tops Apartment Market Again
Dec. 23, 2008
San Francisco claimed the top spot of Marcus & Millichap Research Services’ National Apartment Index for the second consecutive year. While the metropolitan area’s large concentration of professional and financial firms is expected to result in job cuts, it ranked close to the top in almost all of the other measurements used in the index.
Another Round of Economic Reports to be Released Today
Dec. 23, 2008
With economic and housing sector reports slated for release today, investors aren’t expecting good news. Several housing market reports as well as the government’s report on the third-quarter gross domestic product figures will be released today along with a consumer confidence report, according to CNNMoney.com.
Clark Opens Pioneering Military Singles Property in San Diego
Dec. 23, 2008
At Naval Base San Diego, Clark Realty Capital and the Department of the Navy opened the doors of Pacific Beacon (pictured), the first of three 18-story luxury apartment buildings in the country's first large-scale housing privatization initiative for unmarried military personnel.
Lynd Breaks Ground on First Chicago Property
Dec. 16, 2008
San Antonio, Texas-based developer Lynd Development Partners is making its first move into the Chicago market with a 300,000-square-foot, 249-unit apartment tower.
Fund Snags 2 More Student Housing Assets for $64M
Dec. 15, 2008
Place/BV Student Housing Fund L.L.C., a joint venture of Place Properties and Blue Vista Capital Management, has put a total $64 million investment in two more student housing developments, one in Arkansas and one in Nevada. Both communities will open next summer.
Serota Properties Proposes $300M Mixed-Use Project
Dec. 11, 2008
Serota Properties has submitted a proposal to develop a $300 million mixed-use community on 136 acres at the corner of Sunrise Highway and Veterans Memorial Highway in New York’s Islip, Long Island.
Holliday Fenoglio Arranges $28M Financing for Oakland M-F Community
Dec. 10, 2008
The Hartford office of Holliday Fenoglio Fowler L.P. has arranged a $28 million first mortgage financing for Landing at Jack London Square, a 282-unit, class A multi-family community in Oakland, Calif. Working exclusively on behalf of Legacy Partners Landing L.L.C., with managing partner Cornerstone Real Estate Advisers, Holliday Fenoglio senior managing director Dana Brome and director Susan Larkin placed the five-year, fixed-rate loan with Freddie Mac.
Henderson Global Acquires Boston M-F Community for $48M
Dec. 10, 2008
On behalf of its value-add CASA Partners IV fund, Henderson Global Investors, an independent investment manager, has acquired Reading Commons, a 204-unit multi-family complex located 10 miles outside Boston, for $48.5 million. The property marks the fund’s first luxury acquisition in the Northeast.
The Trends: Apartment Prices, Asking Rents Receive Q3 Boost
Dec. 09, 2008
National apartment prices rose 2.3 percent from the second quarter to the third quarter, notching a score of 178.57, according to Moody’s/REAL Commercial Property Price Indices for November 2008. That mark is the highest of all property types examined; in addition to apartments, the report assesses the office, retail and industrial sectors.
The News: Free to Choose
Dec. 09, 2008
A large number of empty condominium units is challenging South Florida’s apartment rental market, and apartment owners are looking for more ingenious ways to attract tenants. One company, Altman Development Corp., is offering early leasing residents the opportunity to customize apartments at Satori, a 279-unit luxury complex in Fort Lauderdale.
The Expert: Assessing Value in Uncharted Waters
Dec. 09, 2008
The recent capital-adequacy problems of major financial institutions has increased volatility, decreased liquidity and stalled multi-family property transaction volume, though multi-family volume is clearly ahead of commercial property volumes. This has created significant challenges for multi-family investors gauging expected cap rates and pricing.
Bascom Nabs Denver-Area M-F for $32M
Nov. 26, 2008
The Bascom Group L.L.C. has acquired a 320-unit Class A apartment community in the Denver suburb of Aurora, Colo., in a $32.2 million deal with seller Steadfast Cos.
The Trends: Apartment Firms Armed with Mini IT Budgets
Nov. 25, 2008
According to the National Multi Housing Council’s Information Technology Investment Banking Survey, respondents reported that they shell out just 0.7 percent of their gross revenue on IT, excluding telecommunications services at the property level. Of that 0.7 percent, however, almost 20 percent is allotted to consultants. Respondents appear to be similarly interested in discretionary projects aimed at bolstering revenue, as 19 percent is spent on such initiatives. Interestingly enough, those surveyed spend 12.6 percent on outsourcing.
Discover Real Estate Trends In Full Detail
Commercial real estate and commercial property trends are explored extensively in each issue of Commercial Property News. CPN is the real estate magazine the industry turns to for the latest news on multi-family projects and real estate trends.
|
|
Subscribe to this blog's feed
