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$1.5B San Francisco loan heads to servicing
Maximus Real Estate Partners owns Parkmerced, a 3,221-unit housing complex in San Francisco.
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Q&A
‘Synthetic’ fraud is on the rise. Are you prepared?
Criminals are using identities composed of a mix of real and fake information to get past traditional detection methods, according to a new report.
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Washington, DC, apartment building heads to auction
Ranger Properties’ new 110-unit project in the Union Market neighborhood was recently foreclosed upon.
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New Freddie Mac policies address underwriting, fraud detection
New or inexperienced multifamily borrowers will now need additional due diligence.
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KKR buys student portfolio from Blackstone for $1.64B
With this acquisition, University Partners will have more than 25,000 units under management.
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Q&A
Greystar eyes build-to-rent expansion
The multifamily giant has 4,500 BTR homes in development and 2,000 more in the planning stages.
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$500M mixed-use project coming to downtown Orlando
The development, adjacent to the Orlando Magic’s arena, includes a hotel, housing and an entertainment venue and is set to break ground this year.
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Thought Leaders: April 2024
Executives from Hillpointe, Summit Contracting, Halstead and more talk about their latest challenges and successes.
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Swinerton deploys tech on $98M North Carolina mixed-use mass timber build
The builder attached 3D modeling devices on workers’ helmets to collect data for virtual twins, documentation, reference and planning.
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Atlanta office conversion goes to foreclosure
An affiliate of Plano, Texas-based Wolfe Investments took out a $20 million loan on 41 Marietta St. in July 2021.
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PRODUCTS
April 2024 roundup: New multifamily products
Offerings this month range from an AI-powered maintenance management platform to vacuum-insulated window glass.
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Multifamily deal volume drops 25%
The apartment sector has posted year-over-year transaction declines for seven consecutive quarters.
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Q&A
Embrey exec encourages women to consider a career in building
Helena P. Finley is currently leading the construction of 20 projects in eight regions for the San Antonio-based firm.
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Apartment starts fall more than 43%
Completions rose 4.6% as developers added more than 500,000 units in March.
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DEALS + STARTS
Mast Capital starts 320 units in high-growth Florida market
Hancock Bridge Square is set to take advantage of rapidly rising rents in Fort Myers.
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Q&A
The country’s top apartment builder says higher prices are here to stay
Summit Contracting Group’s Marc Padgett sees business picking up, but says that construction costs remain stubborn.
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EXECUTIVE MOVES
Value Cos. names Matthew Mirman executive vice president
The former sports betting VP will focus on the New Jersey multifamily owner’s portfolio expansion and third-party management affiliate.
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DEALS + STARTS
San Diego-area apartment trades for $82M
Jackson Square Properties sold a 233-unit community in Chula Vista to Pacific Urban Investors.
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Gen Z to pay $145K in rent by age 30
While millennials paid less for rent in their 20s than their younger counterparts, they also earned less on average.
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4 questions about the Blackstone-AIR deal
Analysts talk about the implications of last week's acquisition and the potential for more M&A on the horizon.
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PROJECT SPOTLIGHT
Tech-focused apartment tower set to open in Oakland
Managed by Bozzuto, 1900 Broadway will offer office space, coworking options, a fleet of Teslas and amenity access through an integrated mobile app.
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MEB Management Services merges with Weller
The combined company, Bryten Real Estate Partners, will operate nearly 47,000 units across the U.S.
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The multifamily markets where expenses are rising the fastest
While total operating cost growth has slowed somewhat, insurance premiums are increasing, especially in disaster-prone areas.
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S&P puts AIR on watch after Blackstone deal
The rating agency is concerned that the investment manager is “likely to continue to saddle aggressive debt leverage upon its portfolio companies.”
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California manager settles for over $1M in security deposit case
The state attorney general alleges that Arnel Management Co. deducted pre-set cleaning fees regardless of unit condition.