Capital: Page 10
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More Veritas apartments hit the market in San Francisco
The owner has defaulted on $1 billion worth of loans that were backed by more than 2,450 apartments across the city.
By Leslie Shaver • March 12, 2024 -
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Powell predicts commercial real estate woes will most afflict smaller banks
The Fed, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.
By Jim Tyson • March 7, 2024 -
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DEALS + STARTSBlighted New Jersey tower changes hands
Hudson Valley Property Group worked for two years to cobble together financing to close the 21-story Northgate Apartments in Camden.
By Leslie Shaver • March 7, 2024 -
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Nearly 50 banks have multifamily loan issues
At the end of 2023, 49 financial institutions had apartment nonperforming loans greater than 5% of total multifamily loans, according to a report from Fitch Ratings.
By Leslie Shaver • March 6, 2024 -
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Dallas, Atlanta lead the way for apartment sales
Both metros held the top spots despite transaction declines of more than 50%, while Chicago and New York City’s boroughs moved into the top five.
By Leslie Shaver • March 5, 2024 -
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Supply chain headaches persist 4 years into pandemic
As the fourth anniversary of COVID-19’s arrival in the U.S. nears, contractors are still dealing with challenges around materials pricing and availability.
By Shefali Kapadia • March 4, 2024 -
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Multifamily originations fall
New loans declined 46% in 2023 and 27% in Q4, according to new reports.
By Leslie Shaver • March 1, 2024 -
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Pretium acquires BH Management Services
The Des Moines, Iowa-based No. 8 apartment operator in the country has a portfolio of multifamily, student and single-family housing.
By Leslie Shaver • March 1, 2024 -
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Wells Fargo CFO calls commercial real estate a ‘long movie’
The office market is under the most pressure, the bank’s finance chief Michael Santomassimo said on Monday.
By Maura Webber Sadovi • Feb. 28, 2024 -
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MSCI: Apartment sales drop 45%
Prices also fell in January, but the pace of decline is slowing.
By Leslie Shaver • Feb. 28, 2024 -
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DEALS + STARTSNew property in Phoenix area sells for $66.5M
Developer Vedura Residential sold Elevation at the Village to RV resort, manufactured home and apartment operator Cal-Am Properties.
By Leslie Shaver • Feb. 28, 2024 -
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REIT ReportMAA sees new lease pricing improve after 7% fall
The REIT’s blended pricing rose 130 basis points in January, and the firm expects fundamentals to improve as the year plays out.
By Leslie Shaver • Feb. 26, 2024 -
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Invitation aims to buy up to $1B in houses in 2024
The single-family rental owner is also looking to expand its new third-party management business.
By Mary Salmonsen • Feb. 23, 2024 -
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Q&AIs the sales market thawing?
Forum Investment Group’s Darren Fisk compares the environment to a “frozen lake in Minnesota” but thinks the ice may be starting to crack.
By Leslie Shaver • Feb. 23, 2024 -
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Apartment starts fall 38%
Developers completed 538,000 units during January, a 53.7% YOY jump.
By Leslie Shaver • Feb. 22, 2024 -
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REIT ReportEssex sees improvements in delinquencies
Although the REIT operates in relatively low-supply markets, it only expects 1.25% in rent growth.
By Leslie Shaver • Feb. 21, 2024 -
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Troubled NYC tower sold for $265M
Gotham Organization and Carlyle Group recently bought the Aire, a 310-unit luxury property on the Upper West Side.
By Leslie Shaver • Feb. 20, 2024 -
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REIT ReportUDR turns to defense
In addition to focusing on occupancy, the REIT is using AI to combat fraud.
By Leslie Shaver • Feb. 16, 2024 -
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UDR assumes ownership of Mill Creek lease-up development in Oakland
The REIT had provided $45.2 million in preferred equity for the 173-unit asset.
By Leslie Shaver • Feb. 15, 2024 -
Highsmith, Carol M. (2011). "Robert C. Weaver Federal Building, headquarters of HUD, the U.S. Department of Housing and Urban Development, Washington, D.C" [Photograph]. Retrieved from Wikimedia Commons.
HUD awards $3.1B to homelessness assistance projects
The Continuum of Care grants support 7,000 housing and supportive service programs.
By Mary Salmonsen • Feb. 15, 2024 -
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REIT ReportCamden expects a ‘transition year’ for supply, with the highest concessions in Nashville and Austin
Overall, the firm predicts property revenues to fall between 0.5% to 2.5%, with Southern California leading the way.
By Leslie Shaver • Feb. 14, 2024 -
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Lender forecloses on Greystar tower in Dallas
Areeif Lender W LLC, an affiliate of Ares Commercial Real Estate, has taken control of The Gabriella.
By Leslie Shaver • Feb. 13, 2024 -
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REIT ReportAVB generated $10M from its AvalonConnect rollout in 2023
Like EQR, the REIT expects a slower year in 2024 with NOI growth of 1.25%.
By Leslie Shaver • Feb. 12, 2024 -
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DEALS + STARTSUniverse Holdings enters Tampa with $66M purchase
The Los Angeles-based firm bought Pearce at Pavilion in a transaction where it assumed the Fannie Mae loan.
By Leslie Shaver • Feb. 9, 2024 -
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REIT ReportEQR sees renewal rents above 5%
The REIT expects to see costs fall in 2024, including those from payroll, maintenance and repair.
By Leslie Shaver • Feb. 7, 2024
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