Demand for Value-Add Multifamily Acquisitions Outpaces Supply

Earlier this year, national real estate investor and operator Waterton closed fundraising activity for a multifamily value-add fund with $1.5 billion in equity commitments from global institutional investors. Waterton launched the fund, known as Waterton Residential Property Venture XIV, in May 2020. The first deployment from the fund was a four-property, 1,824-unit portfolio in metro Atlanta followed by a two-property portfolio in Hawaii and three assets in California. The largest-ever fund …

June 24, 2021Features, Heartland Feature Archive, Multifamily

Office Buildings Get Wellness Makeovers

The work-from-home model that became the “new normal” for most office workers in 2020 as a result of the COVID-19 pandemic has stymied leasing activity and altered tenant strategies. Many space users have opted for short-term leases in response to the uncertainty triggered by the virus. According to JLL, U.S. office leasing volume in 2020 totaled 125.6 million square feet, down 47 percent from the prior year. Of the lease renewals inked in the fourth quarter, 43 percent were for five years …

June 22, 2021Features, Heartland Feature Archive, Office

All Bets Are Off on Property Tax Assessments

By Jerome Wallach, The Wallach Law FirmIn the budgeting process each year, property owners ask tax attorneys to estimate their projected tax exposure for the coming year or, in the case of multi-year cycles, what their property’s assessed value will be.Customarily, attorneys experienced in real property tax appeals find answers to those questions by using traditional valuation methods: The cost approach is applicable to newer properties; the income analysis approach is tied to …

May 13, 2021Features, Heartland Feature Archive

Four Factors for Planning a Post-Pandemic Multifamily Amenity Renovation

By Mary Cook, Mary Cook Associates As a commercial interiors firm, a question we hear a lot recently is “Are multifamily developers renovating amenities because of the pandemic?” The answer is a bit more nuanced than a straight “yes” or “no.” No, entire amenity floors are not being ripped out and re-thought in direct response to changes stemming from the pandemic. But yes, long-term lifestyle trends are emerging from the pandemic that should be a factor when redesigning amenity …

March 30, 2021Features, Heartland Feature Archive, Multifamily

Matching Americans to Jobs Will Be Key to Economic Recovery, Says Economist

DES PLAINES, ILL. — When reflecting on the future of the economy and its recovery, sometimes it’s good to look back. For instance, one of the lessons learned from the pandemic of 1918 was that people will make up for lost time, says Scott Brown, chief economist for Raymond James. “That’s one of the reasons we had the Roaring ’20s.”Brown’s remarks came during the opening session of CORFAC International’s virtual spring conference on Wednesday, March 17. Brown hosted an …

March 19, 2021Features, Heartland Feature Archive

General Contractors Look Forward to Possible ‘Tsunami of Projects’ as Backlog Dissipates

With light emerging at the end of the COVID-19 tunnel thanks to the rollout of a vaccine, general contractors are confident of an uptick in business activity in 2021 following a year in which many projects were put on hold. But that optimism is clouded slightly by the high cost of materials, particularly lumber. Michael Sullivan Jr., CEO and founder of Des Plaines, Illinois-based Peak Construction Corp., says his company is prepared to absorb more of the rising costs this year than it did in …

February 16, 2021Features, Heartland Feature Archive

Pandemic Puts Outdoor Amenities, Middle Markets into Multifamily Spotlight

The impact of COVID-19 on the multifamily sector may not have been as severe as its effect on the retail or office asset classes, but there are still many ways that those professionals active in the multifamily space adapted to pandemic-driven changes. Some of these adjustments, such as virtual apartment tours, are likely permanent.Here are four pandemic-related trends expected to influence the multifamily sector in 2021, according to a roundup of Midwest-based real estate …

January 5, 2021Features, Heartland Feature Archive, Multifamily

Cleveland, Milwaukee & St. Louis Multifamily Forecasts Indicate Case for Caution

In earlier research, we found that investors may find advantageous risk and reward tradeoffs during the pandemic in often overlooked Midwest secondary markets. For the most part, average rent and occupancy metrics in these markets continued to rise throughout the summer, recession notwithstanding. Together, their inviting cap rates, rising NOI and low historic income volatility form a fairly compelling investment predicate.We also found that positive performance attributes were not limited …

November 19, 2020Content Partner, Heartland Feature Archive, Lument, Midwest, Missouri, Multifamily, Ohio, RED Capital Group, Wisconsin

Slow and Steady Wins the Race: The Case for Multifamily in Cincinnati and Detroit

Investors favor multifamily markets with brisk population growth and meaningful barriers to entry. But can a case be made in turbulent times for slow-growth Midwest cities characterized by weak entry barriers?View higher resolution version of chart above here.Midwest metro areas with relatively healthy demographic growth — Columbus, Indianapolis and Kansas City come to mind — have posted constructive performance trends during the pandemic recession so far, particularly with respect …

November 12, 2020Content Partner, Heartland Feature Archive, Lument, Michigan, Midwest, Multifamily, Ohio, RED Capital Group

Secondary Midwest Markets: Investor Refuge or Flavor of the Month?

More than a few column inches in multifamily media this year were dedicated to the implications of coronavirus on the housing preferences of renter households. Many theorize that the pandemic is leading householders to reexamine their attachment to urban life and consider suburban alternatives that offer larger floor plans, better schools, free parking and unit access without an elevator ride.Available data suggest there is something to this notion. Occupancy and rent in core urban …

November 5, 2020Content Partner, Heartland Feature Archive, Indiana, Lument, Midwest, Missouri, Multifamily, Ohio, RED Capital Group

Demand for Value-Add Multifamily Acquisitions Outpaces Supply

Office Buildings Get Wellness Makeovers

All Bets Are Off on Property Tax Assessments

Four Factors for Planning a Post-Pandemic Multifamily Amenity Renovation

Matching Americans to Jobs Will Be Key to Economic Recovery, Says Economist

General Contractors Look Forward to Possible ‘Tsunami of Projects’ as Backlog Dissipates

Pandemic Puts Outdoor Amenities, Middle Markets into Multifamily Spotlight

Cleveland, Milwaukee & St. Louis Multifamily Forecasts Indicate Case for Caution

Slow and Steady Wins the Race: The Case for Multifamily in Cincinnati and Detroit

Secondary Midwest Markets: Investor Refuge or Flavor of the Month?

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