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InterFace Multifamily Texas

The leading owners, investors, developers and operators of multifamily property in the great state of Texas will come together September 26th for the 7th annual InterFace Multifamily Texas conference. The conference will focus on both the supply/demand balance as well as on who is buying, building and financing apartment properties in Dallas, Houston, San Antonio and Austin. The panels will also discuss trends in leasing, management and operations and look at macro-economic and demographic …

Value-Add Opens Doors For Multifamily Buyers

Capital sources of all types see opportunity in the apartment sectors of core Texas markets, which regularly lead the nation in employment and population gains. With so many investors trying to park money in this space, sales prices have risen, cap rates for multifamily properties in major markets have compressed and lenders are competing among themselves to finance acquisitions. When lenders compete, borrowers win. For multifamily lending in sizable markets, value-add borrowers are seeing …

Influx of Supply Begins to Impact Minneapolis Multifamily Market

Like several other markets across the country, the Twin Cities is experiencing the peak of the post-recession construction cycle. However, the traditionally tight multifamily market is in one of the best positions to absorb new units. In fact, Minneapolis-St. Paul has consistently reported one of the lowest vacancy rates in the nation due to a strong economic base and pent up demand for new units. Metro Minneapolis is the second-largest economic center in the Midwest and the local economy …

Labor, Population Growth Drives Las Vegas Multifamily Market

Las Vegas continues to benefit from a strong labor market, which is driving demand and strong fundamentals in the multifamily sector. Employment in Southern Nevada increased by 3.4 percent over the past year, reaching one million workers, while the total population in Southern Nevada increased 2.2 percent, surpassing more than 2.2 million people. With a well-documented shortage in housing, developers added more than 3,200 new apartment units during the year and still saw vacancies decrease 30 …

Texas Summer Heat Is No Match for DFW Multifamily Market

To say the multifamily investment market in Dallas-Fort Worth (DFW) is healthy would be an understatement. With nearly 36,000 units across 183 properties sold in the first half of 2018, according to Real Capital Analytics, a more accurate assessment would be that the sector is — figuratively — on fire. Investor demand for workforce housing remains at an all-time high. With strong economic fundamentals, buyers remain bullish on the DFW multifamily market. Historically low interest rates …

Baltimore’s Multifamily Market is Growing at an Unprecedented Rate

For years, others have considered Baltimore a second-tier market on the Interstate 95 Corridor, lacking the excitement that cities like Philadelphia and Washington, D.C., offer. Not so any more. Baltimore has evolved into a top-tier housing market that is nationally recognized by the investment community. No longer a collection of relics from the “rust belt” banking town that it was decades ago, Baltimore is now a mosaic of adaptive reuses and a hot-bed for tech jobs. The Charm City is …

New Companies Bring Larger Needs for Multifamily Housing to Albuquerque

Albuquerque is a hidden gem. It isn’t a huge market when compared to places like Seattle, Austin or Denver, but that doesn’t mean there isn’t room for growth and development. [caption id="attachment_204768" align="alignright" width="100"] David Miles, Allen Sigmon Real Estate Group[/caption] The Urban Land Institute predicts Albuquerque’s development will trail other metros with stronger economies in 2018. But there are positive trends and developments for Albuquerque and the …

Renter Demand, Investor Interest are Strong in Carolinas’ Top Multifamily Markets

Several Carolinas markets continue to top national lists for job and population growth, particularly Charlotte and the Triangle. The quality of living and strong fundamentals draw both millennial renters and empty nesters, with no slowdown in demand in sight. In turn, capital continues to pour into the region’s multifamily sector as investors chase higher yields and lower supply pressure while cap rates linger near historical lows. Multifamily Momentum With the record-setting pace of …

Development Activity in Cedar Rapids Abounds Across Property Sectors

In a series of citywide events on June 13, the city of Cedar Rapids celebrated the recovery efforts from the historic flood of 2008 that crested that day 10 years ago. The events also remembered those that lost so much in the residential and business community. Many are still impacted by this natural disaster. As I have previously noted in past articles, the city’s recovery efforts have been nationally recognized, including: • All-America City Award in 2014 from the National Civic …

An Investor’s Guide to Financing Multifamily Assets in Lubbock, West Texas

Growing up in Lubbock in the 1990s, cotton fields were everywhere. No growth existed in the southwest part of town, and few new apartments were built. Today those same cotton fields are housing developments; the southwest part of town is filled with high-quality retail and more than 2,000 apartment units have been delivered since 2015. [caption id="attachment_207533" align="alignright" width="100"] Carl Pankratz, NorthMarq Capital[/caption] Lubbock is thriving behind its sub-3 percent …

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