Every month, we reach out to multifamily industry leaders in order to gain their perspective on the market. This month, we talked with Juliana Capalbo, the new director of operations and finance for Brook Farm Group, an Atlanta-based national multifamily development company. She has 15 years of professional experience and will oversee the firm’s operations, More
It may seem easy and straightforward to generate a list of talented commercial real estate brokers. After all, there are many talented people doing many interesting things. But there are 3 million licensed brokers in the U.S. and 2 million commercial real estate companies. And there’s a big difference between good and great. So, yes, More
With further ratcheting up of interest rates by the Federal Reserve, the multifamily market overall is seeing a tentative tapping of the brakes. Nonetheless, those in the know maintain that disruption yields opportunity, and deals are out there — and happening — all over the U.S. For example, RealSource Properties Multifamily REIT not only recently More
Self-storage space has remained an attractive investment as housing markets continue to experience tight conditions, according to Marcus & Millichap’s third quarter Self-Storage National Report. The self-storage sector started second quarter 2022 in a strong position, having increased rental demand during the most challenging period of the pandemic. Currently, more than half of the millennial More
Monument Capital Management bought Talus, a 192-unit multifamily community in Plymouth, Minn., just west of Minneapolis. The purchase price was not disclosed. The property is the first acquisition for MCM’s newly launched Monument Opportunity Fund V. Ted Abramson, senior vice president of CBRE, represented the seller, Curtis Capital Group, in the transaction. Monument represented itself in More
While the market has started to slow slightly, multifamily fundamentals remain strong. According to Freddie Mac’s Mid-Year Multi Family Report, the Florida market and Southwest U.S. markets were expected to outperform the rest of the country in 2022. And despite tightening money regulations driven by persistent inflation and higher interest rates, at least two multimillion-dollar loans More
Rent control, long regarded by many in the homebuilding and multifamily industry as misguided government interference, is edging back into official conversations as interest rates – and rents – continue to rise. The nation is already facing a shortage of rental housing. Some 4.3 million new units are needed by 2035 to accommodate the nation’s More
Marcus & Millichap recently brokered the sale of Tanara Villa, a 130-unit multifamily asset in Tacoma, Wash. The property sold for $24.15 million, which equates to $185,769 per unit. “On the market for the first time in 42 years, Tanara Villa is a significant value-add asset,” said Kellan Moll, first vice president investments in Marcus & Millichap’s Seattle office. “While prior More
Marcus & Millichap recently brokered the sale of Austin Estates and Park Estates, a two-property multifamily portfolio in Decatur, Ga., for $32.25 million, or $126,969 per unit. Located within four miles of each other, the properties’ amenities include full kitchens, in-suite washer and dryer connections, a swimming pool and onsite parking. Austin Estates is a More
Despite a slowing in a previously record-breaking market, multifamily remains a solid investment. The year started off historically strong for multifamily nationwide, with a national vacancy at 120 basis points lower than any quarterly recording from 2000-2019, according to Marcus & Millichap’s third quarter 2022 Multifamily National Report. The average effective monthly rent in the More
Berkadia Institutional Solutions has arranged the sale of Chelsea Museum District to Madera Residential, a Lubbock, Texas-based investment company. Chelsea Museum District is a 325-unit, trophy-quality, multifamily high-rise in Central Houston, Texas. Senior Managing Directors Chris Curry and Todd Marix, Managing Directors Jeff Skipworth, Chris Young and Joey Rippel and Director Kyle Whitney of Berkadia More
When Jon Krebbs was in college, a friend recommended he read Robert Kiyosaki’s book, “Rich Dad, Poor Dad.” It was a revelation, he said. “The book inspired me to study business,” he said. “I started taking business and finance courses, and it ultimately led me to commercial real estate.” He acquired his first multifamily asset, More
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November 7-8, 2023
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