Tag Archives

Austin’s Declining Homeownership Rate Bolsters Demand for Apartments

Since the Great Recession, a strong, steady pace of job creation has attracted thousands of new residents to the Texas capital. This growth has subsequently provided numerous job options for locals, pushing the area’s unemployment rate to 3 percent, one of the lowest in the country. Sinking unemployment, along with wages that have grown faster than the national rate, have spurred robust household formation trends over the last few years, benefiting the local housing market. Rents vs...

February 9, 2018

Philadelphia Suburbs Attract Apartment Construction, City Draws Investors

Suburban Philadelphia Update The suburban Philadelphia apartment market had a very successful 2017, with no slow down anticipated for 2018. Fundamentals remain strong with low interest rates and increased demand from outside buyers, which is compressing cap rates even further than historical lows. Some highlighted sales include Willowyck Apartments in Montgomery County, which sold at a sub-5 percent cap rate on trailing 12-month numbers, and Declan House in Ardmore, which recently sold at a..

February 7, 2018

Turning the Page: Houston’s Multifamily Market Poised for Growth in 2018

Houston’s resilient multifamily market has turned a corner and is poised for growth this year, according to experts across a range of industries. While the city faced significant headwinds in 2017, mainly a sluggish energy sector and a major hurricane that damaged thousands of homes and apartments, Houston’s strong fundamentals have paved the way for the multifamily market to post its strongest performance since 2015. The impacts of Hurricane Harvey generated unexpected changes in the..

January 19, 2018

Milhaus Sells 1,803-Unit Multifamily Portfolio for $320.5M

INDIANAPOLIS — Milhaus has sold a 1,803-unit multifamily portfolio that spans four states for $320.5 million. Four separate buyers acquired the assets. The nine properties included in Milhaus’s Urban Core Portfolio are the 354-unit Highland Row in Memphis, Tenn.; the 131-unit Gantry in Cincinnati; the 329-unit Lift in Oklahoma City; and the 258-unit Artistry, 54-unit Mosaic, 265-unit Circa, 65-unit Mozzo, 105-unit Maxwell, and 242-unit Mentor & Muse in Indianapolis. “The..

January 10, 2018

Scion Student Communities Buys 24-Property Student Housing Portfolio for $1.1B

CHICAGO — Scion Student Communities has purchased a 24-property student housing portfolio containing 13,666 beds across 18 states for $1.1 billion. The portfolio involves 20 leading national universities. The transaction also includes the recapitalization of two communities previously owned by Scion-affiliated private syndications. Five different Harrison Street Real Estate Capital funds owned the properties in partnership with multiple operators. Chicago-based Scion Student..

January 3, 2018

Strong Demand Underserved in San Antonio Multifamily Market

San Antonio is one of the nation’s fastest-growing cities, with a booming, diversified economy that’s luring new businesses and young people at a rate that most other metro areas can only envy. Lacking Austin’s hipster cred, Dallas’ moneyed glamour and Houston’s perennial position at the epicenter of a global industry, San Antonio’s many strengths are often overlooked. While this lower profile hasn’t slowed growth in the Alamo City, it has left its expanding market for Class A..

December 15, 2017

Why Omaha Multifamily Market Is Golden for Investor Opportunities

The national love affair with the multifamily sector may be starting to cool, but the Omaha market is just coming of age and heating up. “Overall, it was a strong third quarter, which was a nice surprise,”said Michael Cohen, CoStar Group director of advisory services, during his State of the Multifamily Market Third Quarter Review and Outlook on Nov. 1. “We’re still in the golden age for multifamily, but we're seeing signs of a gradual slowdown in the apartment market.” [caption..

December 14, 2017

Multifamily Investors, Developers Find Hidden Opportunities in New Orleans

Sometimes there is a “herding” mentality in real estate investment activity, but markets that do not make the headlines of news stories or appear on the top market lists are the ones investors should focus on. New Orleans is one such market, and while it might not be on everyone’s radar, it has the fundamentals and dynamics that are attracting investors’ attention. With a total inventory of approximately 55,000 units, demand for multifamily acquisitions in New Orleans and the Gulf..

December 11, 2017

Demand for Live-Work-Play Fueling Global Interest in Atlanta Multifamily Market

With Atlanta’s economy more robust than ever, demand for multifamily housing remains high, driving rent growth and investor interest throughout the market. Since the last cycle — when a reliance on construction hit hard — the city has transformed its economy by building up its IT, healthcare and automotive sectors, among others. The results of strong job growth and the diversification of employment are evident market-wide. In particular, Buckhead and Midtown have seen a substantial..

December 4, 2017

Demand for Multifamily Units Keeps Pace With Increasing Supply in Boston

Despite the maturing commercial real estate cycle, Boston’s thriving economy continues to generate positive momentum for the metro’s multifamily property marketplace. Over the 12-month period ending June 30, 2017, area employers added 55,700 positions, growing the employment base by 2.1 percent. Job creation was driven by the typically high-wage healthcare and professional fields, and more than 30 percent of the new roles created were in office-using sectors. This healthy growth has..

November 15, 2017