Jim Tatum
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Multifamily oversupply will likely be short-lived
Multifamily may see a few short-term softening effects due to the recent significant influx of new product coming online, but that shouldn’t last long and will likely vary by market. When the National Multifamily Housing Council (NMHC) and National Apartment Association issued their joint report stating that the U.S. multifamily market was down more than four million rental units and needed to build half a million immediately and another 266,000 more a year to keep up with demand, many wondered how that would ultimately play out. More
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Student housing is sizzling
The student housing market is red-hot and those in the know say the sizzle is not done yet. According to Yardi Matrix, student housing had its best year on record in 2022, with some 48% of beds in 200 schools tracked by Yardi already leased for fall 2023. Even though climbing interest rates have cooled […] More
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Multifamily amenities are adapting to suit renters’ needs
The multifamily market continues to hold its own, and even thrive in the current volatile economy, and one increasingly important factor in that success seems to be community amenities. With single-family home prices and interest rates still at historic highs, it’s not surprising that more than 44 million American households are rental households, according to […] More
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Where is the multifamily market going?
As is often the case these days in a volatile climate, the short answer is, “it depends.” More specifically, what can be expected for the next 18 to 24 months regarding acquisition volume, pricing and cap rates; how does one maximize a sale in the current environment; when do values become unsustainable; and is the […] More
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Multifamily remains active in face of market cooling trends
Despite a market significantly cooling from record highs in 2021 and into 2022, the multifamily industry should stay solid, thanks to continued demand and solid fundamentals. Demographics remain a strong fundamental. More
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What to expect in Multifamily in 2023: Strong fundamentals, cooler market
The multifamily market remains fundamentally strong, but will be significantly slower in the coming year. Multifamily, especially the apartment sector, started 2022 in a strong position, with market momentum continuing from 2021, which was the best year in the apartment industry’s history, according to a report by the National Apartment Association. However, by third quarter […] More
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Upscale multifamily communities planned in Florida, Nevada
Miami-based developers Global City Development and Gilu Development, are set to break ground on a new luxury multifamily community in Fort Myers, Fla. The joint venture will be developing a $90 million, 255-unit gated luxury multifamily community, consisting of one-, two-, and three-bedroom residences, ranging in size from 786 square feet to 1,690 square feet. Amenities […] More
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Affordable/supportive housing projects underway in California, Florida, Wisconsin
Alta Housing (formerly Palo Alto Housing), a community-based affordable housing organization, along with Palo Alto Mayor Pat Burt and city council members in California, recently celebrated the opening of Wilton Court Apartments, Alta Housing’s first all-electric apartment building. More
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IPA, M&M sell multifamily assets in Arizona
Institutional Property Advisors recently sold Liv Crossroads, a 356-unit multifamily property in Gilbert, Ariz., for $116 million, or $325,843 per unit. Liv Crossroads is a 19-residential building property with a clubhouse, resort-style heated swimming pool and fitness center. Residents have access to a car care center, electric car charging stations, bicycle repair station and community garden. […] More
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Acquisition of the Week: Omnia on Thomas in Phoenix, Ariz.
FCP and joint venture partner Avanti Residential recently purchased Omnia on Thomas, a 382-unit garden apartment community in Phoenix, AZ, for $65 million. Omnia on Thomas represents FCP’s third multifamily investment in Phoenix and the second time partnering with Avanti after an initial joint venture in Colorado earlier this year. “FCP is excited to expand our successful partnership […] More
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Marcus & Millichap sells two multifamily assets in Texas
Marcus & Millichap sold two multifamily assets, The Hub, located in Dallas, and 6500 South, located in Arlington, Texas, for a combined $82 million. “These two assets garnered a great deal of attention during our sales process despite challenges in the capital markets,” said Al Silva, senior managing director investments in Marcus & Millichap’s Fort […] More
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Student housing continues robust trajectory
Strong fundamentals continue to drive a robust student housing market nationwide. According to the Yardi Matrix Fourth Quarter Student Housing Report, which tracks more than 200 colleges and universities across the U.S., the industry continued to outperform into the third quarter, with a record number of bedrooms leased in September and rent growth strong. The […] More
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