September 6, 2022

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    Marcus & Millichap sells Hartford, Birmingham apartment properties

    Marcus & Millichap has recently sold Onyx at 600 and Ascot Place Apartments, two multifamily properties located in Birmingham, Ala., for a combined $46.4 million or $89,000 per unit. Both properties, built between 1972 and 1985, have 520 units between them, and are located near numerous amenities, including shopping, services, employers and the Birmingham central More

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    Construction terms will be more selective through the rest of 2022

    Expect construction lenders to be more selective throughout the rest of the year, whether regarding their lending capabilities in various markets or towards less experienced borrowers and general contractors. Lenders are becoming more selective since they have already funded a significant amount of their annual allocations, given that rates were low and the market saw More