Are You Experienced Focus?
MULTIFAMILY NEWS Are you familiar with Fitwel? Fitwel is the world’s leading certification system that optimizes buildings to support health. The Mckenize, a luxury high-rise in Dallas was just recognized as the first Fitwel multifamily development in Texas. Enhanced ventilation practices, smart lighting, and outdoor spaces are just a few of the criteria for Fitwel. A shift […]
Family Focused Apartments
MULTIFAMILY NEWS Last week, we mentioned that co-living spaces are starting to gain some traction. Family-focused apartments could be the next thing. Tishman Speyer and Common are partnering up to launch family friendly apartments. These apartments will feature common spaces, geared to specific age groups. Child care will be readily available and stroller parking will be a breeze. […]
Power Nap Anyone?
MULTIFAMILY Denver’s largest multifamily transaction in 2.5 years closed last week. A combined 1,023 units sold for $177m to BMC Investments and Oak Coast Properties. Morgan Properties becomes the largest multifamily owner in Pennsylvania Their recent purchase from Lone Star Funds for $890m includes 2,346 units in PA bringing their total unit count to 9,300. Want to […]
Is Austin Running Out of Room?
A $32m dollar penthouse anyone? Hudson Yards prepares for its grand opening next week on the far west side of Manhattan. The $25b redevelopment will include retail, office space and condos ranging from $4m to $30m. U.S. apartment market shows no signs of slowing down. Occupied apartments units saw a 20% increase compared to the last 10-years. A number of demographic […]
Amazon Launches Grocery Stores
Office Depot partners with e-commerce giant, Alibaba. The partnership will consist of a co-branded site; alibaba.com/officedepot. The goal is to target more small and midsize businesses. Amazon is launching grocery stores in an attempt to come in at a lower price point than Whole Foods (which Amazon owns). The TBD name stores will begin to open on the West Coast later this […]
Smart Apartments Coming
Here’s a first. Oregon just became the first state to issue statewide rent control. Annual rent increases will be capped at 7% plus inflation statewide. New construction is exempt from the cap for 15 years after their completion. If a tenant leaves voluntary, there’s no cap. Greystone lends $58m for “Smart Home” multifamily project in San Antonio, Texas. The 310-unit […]
Cashless Retail?
Boston is Hot Looking to invest in multifamily? Boston might be your spot. With over 20,000 apartment units underway in the metro area, Boston is topping the charts for multifamily growth. “Boston apartment rents grew by an average of 2.8 percent in 2018, and rents are expected to rise 1.4 percent in 2019, CoStar estimates.” Kushner is […]
Top Apartment Amenities
What Renters Really Want Apartment Guide did a deep dive into what renters are really looking for. Here’s what they found out: Most renters are moving to save money (37%) or be closer to work(32%). Price and neighborhood top the list of what renters take note of. The most desired amenity is a washer and dryer in the unit. 67% of renters will […]
Music-Inspired Amenities?
Rent Versus Buy? A recent RentCafe study shows the fastest-growing rent segment to be: high-income earners. Is it a sign of the times? Maybe. These high-income earners are enjoying the flexibility of leases and the ability to live in desirable areas without the commitment of a mortgage. Seattle, Baltimore, and Charlotte have seen the largest […]
Robot Furniture?
[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] Amazon Hub in New York? There were some rumors flying around last week that Amazon was reconsidering Long Island as a location for its new hub. Considering the hub is slated to bring at least 25k jobs to the city, concern was and is warranted. While it appears that all is a go, some […]
Short Term Rentals are Taking Off
Why Hotel? The short-term rental game is gaining some steam. With more properties being developed, multifamily owners are wanting to take advantage of vacancies. One company, in particular, has created a business model around short-term rentals; WhyHotel. This company will partner up with developers to lease up to 100 empty units. These empty units are […]
Loan Limit Increase for Multifamily Mortgages
MULTIFAMILY REAL ESTATE Loan Limit Increase for Multifamily Mortgages In an effort to provide more capital and liquidity to the small loan marketplace, Fannie Mae is doubling its loan limit. The new small loan limit will be $6 million effective immediately. The ultimate goal is to increase the affordable housing supply. The Gamble is On […]
