REBusinessOnline

InterFace Salt Lake City Multifamily 2019

Western Real Estate Business and the InterFace Conference Group will host the annual InterFace Salt Lake City Multifamily Conference. The networking event will take place November 12th at the Salt Lake City Marriott City Center. The conference will explore the latest multifamily trends — from development, design and amenities to leasing, management and operations. Additionally, panelists will share insight into economic and demographic trends that impact the local apartment market. Learn …

Competition Floods Class B Multifamily Space in DFW

The unprecedented job and population growth that Dallas-Fort Worth (DFW) has experienced during this cycle has brought a plethora of new buyers to the Class B multifamily space, and the simple economics of high demand and low supply are re-shaping the landscape of the investment market. According to CoStar Group, the average price per unit in the Class B space has increased by 4.3 percent year-to-date, and deal volume on sales of Class B assets is down from 2017. These trends attest to the …

Affordable Housing Benefits Communities As Well As Residents

For the past 10 years, Walters has been creating premium affordable housing that is 100 percent income-restricted and sustainable. The company has  delivered a dozen developments throughout New Jersey, and several more are currently under development. The positive benefits and lasting effects of affordable housing impact both the residents living in the homes as well as the communities in which they are located. Each year, more people struggle to afford living in the communities where they …

Austin, San Antonio Apartment Markets Perform Similarly As Fourth Quarter Unfolds

In both Austin and San Antonio, consistent job creation and in-migration contributed to solid household formation and rental demand over the 12-month period ending in June. Many of these new households comprise younger professionals that favor the renter lifestyle. Following stretches of rampant construction, solid apartment demand from this demographic was met with fewer project deliveries in both markets over the past year. The decline in supply additions, coupled with strong absorption, …

Making Up for Lost Time Can Be Costly for Affordable Housing Developers

Despite evidence of their own experience, developers of affordable housing can still minimize the incidence of unforeseen delays and underestimate their costs. Capital One has 75 such developments under construction, and more than half are in some way behind schedule. This is neither unusual nor a comment on our partners’ skills as developers of much-needed affordable housing. The point is that making up for lost time can be particularly costly. While unforeseen delays are no more common in …

DFW Multifamily Lenders Remain Disciplined

The joint effects of heavy supply additions, rising construction costs and the possibility of an looming recession have multifamily lenders in Dallas-Fort Worth (DFW) exercising caution and restraint on new construction financing, even as jobs and people continue to flow into the metroplex and fuel demand for housing. The sector’s fundamentals are very encouraging. According to data from CoStar Group, the metroplex has added approximately 23,000 new units over the past 12 months. At just …

Investors Should Take a Second Look at Opportunities in Chicagoland Multifamily

Chicago real estate has been the subject of considerable pessimism from local and national investors due to a variety of factors. Much of this can be blamed on our unfunded pension liability, which is expected to significantly increase real estate taxes across the area in the coming years. Many institutional multifamily investors claim that their data says to avoid Chicago. Instead, they seek multifamily properties at far lower returns and cap rates in places such as Nashville, Austin and …

Strong Economy Propels Lubbock Multifamily Market Despite Uptick in Concessions

It’s an exciting time to be living in Lubbock, Texas. The amazing smells of Evie Mae’s Beef Ribs fill the air. McPherson, llano Estacado and English Wineries are producing gold medal wines, on point with anywhere in the country. The Texas Tech men’s basketball team was 30 seconds away from a national championship; the men’s track team won the NCAA Championship; and the Red Raiders’ Meat Judging Team continued its dominant reign. Winning has infected the community culture, …

InterFace Phoenix Multifamily 2019

Western Real Estate Business and the InterFace Conference Group are pleased to announce the annual InterFace Phoenix Multifamily Conference on September 10th at the Hilton Scottsdale Resort & Villas. The big event will include those who are buying, selling, developing, redeveloping, or financing multifamily properties in the Arizona area. The conference will explore the latest trends in leasing, management and operations, as well as economic and demographic trends that impact the …

Mixed-Use and Apartments: Is There Still Room for Growth in the Twin Cities?

As a team, we work heavily in mixed-use leasing and development sourcing. Our team handles the commercial leasing on many mixed-use projects within the Twin Cities market, where we also source and find locations for mixed-use apartment developers. This article will give a current snapshot of the mixed-use retail and apartment market within the Twin Cities. What types of projects? There are many three- to six-story, podium-style apartment buildings popping up all over the urban areas of …

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