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The property consists of a four-story main building with eight units and a rear carriage house with six units. The contract of the sale was originally singed in February and closed despite the pandemic. This deal was launched after the passing of the Housing Stability and Tenant Protection Act of 2019, and there was one More

The beginning of the COVID-19 pandemic brought a lot of uncertainty to the industry as tenants saw a surge in unemployment and struggled to pay rent leading to a chain reaction with owners and developers resetting their 2020 goals. The economy saw a small boost with the multiple coronavirus stimulus packages passed and many tenants More

The senior housing lockdown that’s limiting tours and visitors to protect residents will continue to disrupt both the flow of capital that was previously chasing the Silver Tsunami expected to hit around 2026 and the uptick in occupancy that stated with the absorption of oversupply in multiple markets. CORE Real Estate Capital saw an immediate More

Acquisition volume continues to slow to a trickle as would-be multifamily buyers and the rest of the industry struggles to understand where property values should be and where they’re going. Buyers are still hungry for deals but sit idle waiting for opportunities to present themselves. Brokers are still getting calls daily from those looking for More

Expect cap rates for student housing to see some widening. Sellers are still trading at low cap rates after the last two years had a tidal wave of capital flood the space, driving prices up. The student housing industry, as a whole, should continue to benefit from strong investor interest and attractive investment trends such More

Pinnacle has been exceptionally busy with its clients this year. All the capital flowing into the sector has brought a lot of new business via new properties and first-time clients. The company experienced the most growth in the Mid-Atlantic and Northeast by adding 5,000 units to its management portfolio located in Washington, D.C., New Jersey, More

JRK Property Holdings stays disciplined with plans to acquire $600M of properties in need of renovations by the end of 2019. The company closed a fund in June and raised $800M to target core-plus ’90s or newer product in the top 25 markets. The firm is also deploying a value-add fund in the same markets More

Count on developers to continue starting new projects due to strong demographics, liquid debt and equity. Scarcity of quality sites, rising construction costs and evermore selective investment capital will slow down new developments, but projected job growth, the continued decline of homeownership rates and positive rent growth will keep production chugging along. Multifamily development will More

Value-add competition will push investors out of their comfort zones in order to compete. This means more players will be on the lookout for off-market deals and/or paying all cash in order to close quickly. Speed of execution is ultimately winning the day. Firms have large subscription lines of credit to buy properties with all More

Watch for parking to be heavily scrutinized more often by developers as both land costs and construction costs remain high. Parking is expensive to build and requires a lot of valuable real estate. While the demand is still there, the cost to build is only increasing. Due to sizing constraints for urban sites, most firms More

Count on single-family housing developers to make themselves at home in the multifamily space going forward. The beginning of this cycle saw a shift of new entrants such as Lennar, DR Horton, Toll Brothers, MBK Real Estate and Tricon become trailblazers for other housing developers tempted to get into multifamily development. Expect to see more More