Multifamily News
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Will multifamily remain a strong investment in 2024?
Next year will certainly be an interesting year for the multifamily sector, according to Logan King, director of Investments at CP Capital US. Real estate remains a great diversification and inflation hedge for any investor’s portfolio, but multifamily in particular is the most liquid of the property types and very resilient given that housing is a core necessity. More
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Mortgage Bankers Association predicts commercial lending to fall 46% in 2023
The Mortgage Bankers Association (MBA) released an updated baseline forecast for commercial and multifamily lending. According to this updated report, lending in these sectors is going to decline by 46% compared to lending in 2022. The new total amount lent for this year is expected to be $442 billion. This is down from $816 billion in total lending in 2022. More
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Multifamily development in Long Island, NY, opens with golf course
The first public golf course built in Long Island in more than 20 years opened this month as part of a 55+ luxury multifamily community. Heatherwood Luxury Apartments, an apartment development company based in Long Island, New York, developed the community and the nine-hole golf course, Heritage Spy Ring Golf Club. It has advertised 1,000 to 1,600 square feet apartments for $3,445+ a month. More
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Luxury community with 214 units acquired in New Jersey
Real estate development and investment company Denholtz Properties acquired Solo at North Bergen, a luxury multifamily housing community in North Bergen, New Jersey. The 214-unit property was completed this year and is already at 98% capacity. More
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Multifamily lending is down but not out
Although there has been some cooling, multifamily borrowers will still see plenty of available lender dollars. Capital will be plentiful for permanent loans, while construction financing will likely remain tight in the short term. Elective refinances will be very limited, and the focus will be on trying to find permanent loan options to take out construction or interim financing. More
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Brook Farm Group to start construction on 388-unit multifamily project in Metro Atlanta
The Sinclair at Callaway Farm, a new 388-unit residential project in Covington, Georgia, near Atlanta, will bring more residential units to a growing area. The project, which is denoted as a Class A multifamily development, was initiated by co-development partners Brook Farm Group, Emory Equity and SilverCap Partners. More
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Luxury apartments proving resilient thus far in 2023
Institutional Property Advisors (IPA), a division of Marcus & Millichap, published its Class A Multifamily Outlook Midyear 2023 special report. The report provides investors with vital insight and analysis on the current state of the Class A multifamily market sector. More
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Multifamily construction will face hurdles through the rest of 2023
Count on multifamily construction lending to be increasingly difficult as the year progresses, especially as more and more lenders move to the sidelines due to capacity issues and balance-sheet issues, or because they have run through their allocations for the year. Borrowers will see less bank capital, especially from the major money-center banks. Debt fund […] More
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JLL Capital Markets closes on a 6-property L.A. County multi-housing portfolio totaling $53.55 million
JLL Capital Markets has achieved a milestone after finalizing the acquisition of a six-property multi-housing portfolio in Los Angeles County. Five of the properties are located in San Fernando Valley and one is located in West Los Angeles. The six low-rise and high-performing apartment communities total to 155 residential units. With the unstable nature of […] More
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Multifamily Acquisition of the Week: 914 W. Hubbard St. in Chicago
KCB Real Estate, a national commercial real estate investment firm, acquired a 26-unit multifamily property in Chicago’s Fulton Market District. The firm, based in Pasadena, Calif., acquires assets ranging from core real estate to niche properties and has executed 14 acquisition transactions valued at $156M in the past 12 months. Property: 914 W. Hubbard St. […] More
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Multifamily development will be focused on amenities
While multifamily development faces challenges — from widespread labor inflation to high interest rates — construction projects continue to persevere. To combat these challenges, developers have focused on projects with strong value-add returns and partnerships with nonprofits and government agencies. Luxury Class A multifamily communities rich in remote working amenities and affordable housing developments are […] More
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Multifamily Acquisition of the Week: The Paseos at Montclair North in Montclair, Calif.
Real estate investment firm Archway Equities acquired The Paseos at Montclair North from 4919 Olive Street Properties LLC for $150M. It’s the largest multifamily transaction in Southern California to close this year and represents Archway’s first multifamily investment in the state. The property was 97% leased at closing. The 385-unit multifamily community is located in […] More