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Category Archives: News
What do students really want in housing?
When it comes to student housing, one thing is pretty much clear: The dorm days are over. To satisfy both cost and quality-of-life concerns, most students have moved off campus into modernized student housing communities. Competition for their rent dollars hinges on several key components of the rental property: proximity to school; apartment size and plenitude of storage space; availability of one bathroom for …
Confidence in Multifamily at All-Time High
The apartment and condominium market continued to gain momentum in the second quarter with builders’ and developers’ confidence in the sector soaring to an all-time high, according to the National Association of Home Builders’ multifamily index. The index rose to its highest reading since 2003, which is the year the index began. The index measures builder and developer sentiment in the apartment and condo …
Second Quarter Apartment Markets Mixed in Latest NMHC ...
While demand for apartment homes remained strong, rising interest rates exerted negative pressure on the industry’s ability to secure debt financing according to the National Multi Housing Council’s (NMHC) July Quarterly Survey of Apartment Market Conditions. Only the Market Tightness Index (55) remained above the breakeven line of 50 this quarter. Sales Volume (46) and Equity Financing (49) dipped, with Debt Financing dropping sharply …
America’s 10 Fastest Growing College Towns
Raleigh checks in at #1 in America’s fastest growing college towns according to NREI. » Click here for full story
Highwoods to Develop MetLife’s Global Technology and O...
Raleigh-based Highwoods Properties has unveiled its plans to develop a $110 million office park for MetLife on Weston Parkway in Cary. Called Weston Lakefront, the 100 percent pre-leased build-to-suit campus along the shores of Lake Crabtree will initially include two, 213,500-square-foot, LEED-certified office buildings with structured parking. The facilities will be located on 26.5 acres of a 40-acre site Highwoods owns near the Raleigh-Durham …
Top Metros with Rising Apartment Rent Rates
The Trulia Price Monitor and the Trulia Rent Monitor are the earliest leading indicators of how asking prices and rents are trending nationally and locally. They adjust for the changing mix of listed homes and therefore show what’s really happening to asking prices and rents. Because asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price …
Motel Makeover
Developers are turning roadside ruins into affordable housing The Luna Lodge once welcomed weary travelers making their way on old Route 66 through New Mexico. One of the many motels that sprouted up along the famed highway in the 1950s, Luna was built at a time when families vacationed by car and stayed in mom-and-pop motels advertising cheap rates. But as Route 66 was …
EPA Study: Infill Represents 21% of New-Home Construct...
Nationally, infill development qualifies as a widespread trend that many housing and planning experts love to discuss. But a new study by the EPA’s Office of Sustainable Communities shows that the presence of infill varies significantly in housing markets across the country, with infill accounting for just 2% of new-home construction in Prescott, Ariz., and 80% in San Jose, Calif. “The biggest surprise was …
Exclusive Research: 7,000 Students Reveal Their Housin...
To satisfy both cost and quality-of-life concerns, most students have moved off campus into modernized student housing communities, and competition for their rent dollars hinges around several key factors: be close to school, build big apartments with lots of storage, and make sure residents have their own bathroom (even if they share a bedroom). » Click here for full story
Apartment Owners Tackle Negative Online Reviews
ApartmentRatings.com has long been considered the most controversial of the ratings websites out there. Many managers and owners consider it a hotbed for resident hostility. In a recent small scale survey distributed and compiled by Houston-based Multifamily Insiders and sponsored by Lutherville, Md.-based SatisFacts Research and Corralville, Iowa-based Apartment Grade, 58 percent of respondents said they felt they received a false rating. » Click here for full story
The Interest Rate Surge and Its Impact on Multifamily
We all knew the ultra-low mortgage rates seen over the last couple years wouldn’t last forever. Still, the recent rise of a full percentage point over a two-month period left even the steeliest of apartment professionals reaching for their Pepto-Bismol. » Click here for full story
National Apartment Trend Q2 2013
Reis VP of Economics & Research, Dr. Victor Calanog, provides an update on the apartment sector performance for the 2nd quarter of 2013. 13 quarter streak of declining vacancies came to an end in Q2 2013 27,000 units came online in the second quarter Asking rent grew by 0.6% while effective rent grew by 0.7% East coast and California vacancy rates are tight » Click …
CHARLOTTE: Carolinas Attracting Institutional Capital
The Carolinas are on the national stage now for multifamily investors looking for properties…… » Click here for full story
Riding the Interest-Rate Wave….Sellers take note...
We all witnessed the recent volatility in the stock market that was spurred by commentary from Federal Reserve Chairman Ben Bernanke, on the potential unwinding of quantitative easing. The commercial real estate industry also took a collective breath when 10-year Treasury yields increased over 100 basis points over a 45-day window in response to his commentary. None of this should come as a surprise …
Student-Housing Sector Gets “A” Grade from Experts
After showing impressive resilience during the Great Recession, the student-housing sector is set for a strong future and is attracting increased interest from investors. Those were some of the points made by a panel of student-housing experts on a recent episode of the “Commercial Real Estate Show.” My guests and I examined many topics related to the sector, including in-demand amenities, rent growth, financing …
A Deep Dive into the Federal Reserve’s View of CRER...
The Federal Reserve Bank’s plan to ease its monthly bond acquisitions, otherwise known as quantitative easing, has sent reverberations through the markets. Most notably, yields on 10-year Treasuries have jumped to around 2.5 percent—up from a low of 1.66 percent in early May. Since Treasuries are the basis for many types of debt…… » Click here for full story
Students’ Housing Choices Focus on Value
Yesteryear’s undergrads may have spent money frivolously, but today’s students, with the recession in their rear view mirror, are intent on curbing debt and getting the most for their rental dollar. The term “budget-conscious college student” might seem like an oxymoron, but nowadays it’s not. Today’s undergrads are more conscious of expenses than their predecessors. » Click here for full story
Five Unexpected Design Trends
We don’t mean the skinny jeans and scarf your hipster neighbor wears—we’re talking about features that make a Class-A multifamily property really pop in the luxury world. Humphreys & Partners Architects CEO Mark Humphreys shared the hottest amenities, David Letterman half-style. » Click here for full story
CFO Survey Preview: Cap Rates to Rise Next Year
Jay Hiemenz is hopeful that the first markets into the recession are now, finally, making their way out. The Alliance Residential CFO is keeping a close eye on specific markets that may have room for growth. Phoenix-based Alliance is using a green movement to attract potential residents while employing aggressive research and development and marketing tools to keep NOI in the black….. » Click here for full …
Disposition Watch: Is Now the Best Time to Sell?
Record prices paid on trophy assets suggest we’re not too far from reaching the top of the upturn. It sometimes seems like every day, another apartment building is sold for a record price. But is now the best time to sell? A 250-unit building in Chicago’s Old Town neighborhood recently went for $158 million, or $632,000 per unit, a new record for the Windy …
25 REITs Most Likely To Buy Your Property in 2013
This may well be the year that property owners in secondary and tertiary markets get a chance to cash in on the spending spree of the nation’s largest publicly held REITs and real estate operating companies.
Ares Commercial Real Estate Corporation To Acquire All...
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced today that it has entered into a definitive agreement to acquire EF&A Funding, L.L.C, d/b/a Alliant Capital LLC from The Alliant Company, LLC and Alliant, Inc., for approximately $62.8 million through a combination of cash and stock. Under the terms of the transaction, Alliant Capital LLC is expected to become a wholly owned taxable REIT subsidiary …
Moore: CRE pricing momentum will likely be sustained
Commercial property values have reached and even surpassed 2007’s valuations, according to Green Street Advisors’ Commercial Property Price Index. “Lower rates, an overall drop in yields and real estate catching up to other capital markets has attributed to rising values,” says Jason Moore, an analyst with Green Street Advisors. He says the upward momentum in pricing will likely be sustained. » Click here for …
New CMBS delinquencies drop under the $1B mark
Fitch Ratings reported that delinquencies on commercial mortgage-backed securities dropped to 7.44% in April from 7.63% in March. New delinquencies dipped below the $1 billion mark for the first time since February 2009. » Click here for full story
Equity Residential sells Phoenix multifamily property
Equity Residential Trust has sold a multifamily property in Phoenix for $37.7 million. Henderson Global Investors bought the 350-unit property called Sycamore Creek apartments. » Click here for full story
Dwindling inventory slows sales of existing homes
A tightening supply of existing homes in the U.S. largely was responsible for a 0.6% decline in sales between February and March, analysts say. The National Association of Realtors says existing-home sales eased to an annual rate of 4.92 million. The number of potential buyers increased 25% last month compared with March 2012, but the inventory of houses for sale decreased 17%. » Click …
MHI Hospitality rebrands as SoTHERLY Hotels
MHI Hospitality Corp. has changed its name to SoTHERLY Hotels Inc. The REIT changed the name to better reflect the shifts in its portfolio and approach to the market. » Click here for full story
Vornado nets $156M in proceeds as it strives to focus ...
Vornado Realty Trust is aiming to simplify its portfolio holdings to focus on core properties. It has sold a few properties in recent weeks to that end, netting proceeds of $156 million. » Click here for full story
CMBS expected to see continued smooth sailing
Financing for commercial mortgage-backed securities is not as likely to plunge now as the economic recovery gains momentum. There could easily be temporary spikes in spreads, but that is typical of the market. » Click here for full story
Program to finance energy-efficient upgrades launches
A new financing program, Property Assessed Clean Energy, has launched to support energy-efficient upgrades. Lack of funding has been a top barrier to retrofits, says Katrina Managan, program manager with the Institute for Building Efficiency at Johnson Controls. » Click here for full story
CSO Insights: 2013 Sales Performance Optimization Stud...
In this analysis, see an overview of the eight key attributes found in high performance sales organizations, and some of the major trends that positively and negatively impacted sales behavior in 2012. Compare how your sales team’s best practices align with the high performing organizations in this study. Download the free study now.
CommonWealth REIT adopts provisions to fend off takeov...
CommonWealth REIT has adopted board rules that will help it thwart unsolicited takeover attempts. The REIT recently turned down a $2.9 billion buyout offer from two shareholders. » Click here for full story
Bachia: Brookfield pushes deeper into sustainability
Brookfield Office Properties has focused on sustainability in its portfolio for several years, says Richard Bachia, senior vice president of operations technology. More recently, it began reporting to the Carbon Disclosure Project, an international, not-for-profit organization, and using its Global Real Estate Sustainability Benchmark for its sustainability reporting. » Click here for full story
REIT institutional rankings led by Vanguard, BlackRock
The number of REIT positions held by U.S. institutional investors at year-end 2012 posted an average 8.5% year-over-year increase, according to SNL. Vanguard and BlackRock were at the top of the institutional owners of REIT rankings. » Click here for full story
Chinese cities resist efforts to cool real estate mark...
China’s central government says it is committed to slowing down the rise in home prices, but local governments aren’t cooperating because bringing down property prices will hurt them financially. Money from land sales accounts for about 25% of local governments’ fiscal income. » Click here for full story
Track performance of U.S. and global real estate marke...
Updated daily, the FTSE NAREIT U.S. Real Estate Index Returns and the FTSE EPRA/NAREIT Global Real Estate Index Returns provide index performance data, industry segment returns and comparisons against other major market benchmarks.
Regulators prepare recommendations on rate-setting pro...
Martin Wheatley, CEO of the U.K. Financial Conduct Authority, and Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, are leading a panel of regulators in preparing recommendations for setting benchmark interest rates. The regulators are striving to eliminate conflicts and other issues that have resulted in manipulation of the London Interbank Offered Rate and possibly other benchmark rates. Click here for full …
CRE Liquidity: Too Much, Too Little or Just Right?
Morgan Stanley and Bank of America/Merrill Lynch are going to market in the coming days with a CMBS offering that has a kind of scary deja vu feeling to it for investors. The loans in the offering (MSBAM 2013-C9) have a 98.8% loan-to-value (LTV) ratio, according to Kroll Bond Rating Agency. That is above the high end of the range of the last 11 …
PPR Economists Featured In Latest ULI Real Estate Inve...
Real estate economists Hans Nordby, Shaw Lupton and Suzanne Mulvee of CoStar’s Property and Portfolio Research (PPR) analytic… » Click here for full story
Sternlicht and Barrack Tapping Capital Markets To Fund...
Colony Capital and Starwood Capital Group, two of the giants of global real estate investments who also happen to be among the… » Click here for full story