Property: The Russell Apartments, a 241-unit property in Las Vegas Buyer: SB Real Estate Partners Seller: Watt Companies Price: $67M/$278K per unit With competition for multifamily acquisitions within the Sunbelt currently at an all-time high, the bidding process to secure properties has become tougher than ever for buyers. SB Real Estate Partners sought out this More
The final acquisitions of 2021 point toward another big year for multifamily, with record-setting purchases as buyers scramble to buy up property at a breakneck pace. While markets such as Florida and Texas have maintained a stranglehold on the majority of investor interest throughout 2021, expect some slight shifts into growing cities and states as More
Multifamily development, alongside a growing amount of available investment fund dollars, will maintain strong positions of growth throughout 2022, mirroring much of 2021, with robust pipelines in battleground states. Expect several projects and ground breakings to occur in 2022 and beyond with completion expected during 2023 and 2024. There will be no shortage of lease-ups More
Lennar Multifamily Communities (LMC) Properties Managed/Owned: 74 500 E. Morehead St.Charlotte, NC 28202 Will Chapman, President, LMC InvestmentsKevin Harrell, Managing DirectorJR Plyler, Senior Managing DirectorSarah Young, Managing Director Lennar Multifamily Communities (LMC) Properties Managed/Owned: 74 7489 Malva Rosa WaySacramento, CA 95829 Ed Easley, President, Development Manulife Investment Management Properties Managed/Owned: 12 515 S. Figueroa St.Los More
We asked: What regions/markets do you expect to see increased demand for acquisitions and development in 2022? Jim Butz – President/CEO of Jefferson Apartment Group Jefferson Apartment Group (JAG) is focused on acquisitions and new development in all markets east of the Mississippi. However, within that geography, we continue to see strong job growth, and More
This multifamily community served as an attractive purchase option for Decron Properties due primarily to the strong upside opportunity the property presented. The company is aiming to push rents on the property to similar levels that are currently being offered in the market, while also approaching the property on a value-add basis. Decron plans to More
Though acquisitions are currently dominating much of the multifamily market, strong development pipelines will continue well into 2022 in anticipation of continued fervent demand. Despite rising construction costs, investors and developers remain bullish on the long-term potential of the multifamily segment, and though space for planned construction will continue to be at a premium, expect More
The acquisition push that dominated much of 2021 will continue well into 2022, with a number of investors and companies bolstering portfolios in competitive markets. Expansion into already heavily active markets in the Southeast will continue, though also look for portfolio acquisitions in markets that shift away from the normal trends. Bulk acquisitions will be More
Though the southern portion of the United States continues to dominate headlines in terms of acquisitions and multifamily development, there are still plenty of noteworthy acquisitions in the Western region of the country. Case in point, this acquisition of The Vue, a 197- unit community located in San Bernadino, Calif. represents a strong off-market transaction More
We asked: What regions/markets do you expect to see increased demand for acquisitions and development in 2022? Andre Soroudi — EVP, Acquisitions/Development for CGI+ Real Estate Investment Strategies We are continuing to see tremendous demand for primary suburban locations and expect this trend to sustain through 2022. More specifically, these suburban locations offer an attractive More
Student housing maintains strong demand, along with increased investor interest and a healthy development pipeline. Though COVID-19 remains an active concern, the fall semester is seeing a return to in-person student learning, leading to strong occupancy rates. This will vary heavily by region, but in general, the sector has a lot of potential for growth, More
Watch for a continued influx of acquisitions as 2021 winds down, despite stiff competition from the mixed-use and single-family segments. Multifamily investors will have plenty of product to choose from, as bidding for in-demand properties in battleground markets will lead to huge additions to unit counts. Value-add acquisitions will be a primary driver for investments, More
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