GSEs supply most new multifamily mortgage debt in Q4
A Mortgage Bankers Association (MBA) report shows that the government sponsored entities (GSEs), Fannie Mae and Freddie Mac, accounted for most of the growth in multifamily mortgage debt holdings in Q4 2022. The MBA reported...
Multihousing asset in coastal California secures $13.1 million in financing
JLL Capital Markets announced that it has closed the $13.1 million acquisition financing for The Independent, a Class A, 61-unit multihousing asset located in Sand City, California within Monterey County. JLL marketed the property on...
New home sales remain relatively flat in February
Higher mortgage rates and home prices, as well as increased construction costs contributed to lackluster new home sales in February, but signs point to improvement later in the year. Sales of newly built, single-family homes...
NMHC, NAA release apartment industry’s 2023 policy priorities
The nation's housing supply imbalance and related affordability issues top the list of 2023 apartment industry policy priorities released by the National Multifamily Housing Council (NMHC) and National Apartment Association (NAA). Specific issues of concern...
Rent control hurts housing supply, new research finds
New research from the National Apartment Association (NAA) highlights the unintended and detrimental consequences of rent control. The research, conducted by NDP Analytics and commissioned by NAA, shows that a staggering 70 percent of...
NAHB releases salary, bonus and benefit data for 39 jobs across the home building...
Throughout the economy and across all sectors, millions of people have quit their jobs looking for better work-life balance, benefits, location or pay—a phenomenon now commonly referred to as the Great Resignation. These challenges...
Response to reinstatement of 2013 version of Disparate Impact Regulation
Statement from the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) on the U.S. Department of Housing and Urban Development (HUD) reinstating a 2013 version of disparate impact regulation: “NAA and NMHC...
Institutional Property Advisors closes $102.5 million Greater Phoenix multifamily sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Aventura, a 408-unit multifamily asset in Avondale, Arizona. The property sold for $102.5 million, or $251,225 per unit. “Located adjacent to...
California rent control – round 3?
A new rent control initiative, titled the Justice for Renters Act, has been cleared by the California Attorney General to begin the process of collecting enough signatures to qualify it for the ballot. Update May...
Standard Communities acquires Canton Estates Apartments in Massachusetts
Standard Communities, a major national affordable housing investor and developer, has acquired Canton Estates Apartments, a naturally occurring affordable housing family community in Canton, MA. The total capitalization of the transaction is approximately $18...
Multifamily construction activity surges in February
The Census Bureau’s new residential construction report for February reported that the number of multifamily permits, starts and completions were all up significantly for the month. Once again, there were more starts than completions...
NAHB appoints The NRP Group’s Debra Guerrero Chairwoman of Affordable Housing Group
The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing is pleased to announce that Debra Guerrero, the company’s Senior Vice President of Strategic Partnerships and Government Affairs, has been...
West Shore acquires eighth luxury apartment community in South Carolina
West Shore, a multifamily real estate investment firm, announces its acquisition of Solis Nexton, a new luxury apartment community located in the award-winning Nexton master-planned community in Summerville, South Carolina. This marks the Boston-based...
Institutional Property Advisors closes 518-unit Central Connecticut multifamily portfolio sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of a two-property, 518-unit multifamily portfolio in Middletown, Connecticut. “Located between Hartford and New Haven, Middletown draws residents from employment centers in...
$77.5 million financing secured for Philadelphia multihousing development
JLL Capital Markets announced that it has arranged $77.5 million in construction financing for a 279-unit, seven-story, luxury multihousing development with 8,449 square feet of ground-floor retail, located in the Northern Liberties neighborhood of...