Skip to contentUDR/MetLife II UDR, Inc., a leading multifamily real estate investment trust, formed a new real estate joint venture with MetLife, known as UDR/MetLife II, with each party owning a 50-percent interest in a $1.3 billion portfolio of 12 multifamily communities totaling 2,528 apartment units. The 12 communities include seven from the pair’s first joint venture … Read more
Millennium Partners sold On the Greenway, a 220,160-square-foot office building in Boston to Invesco IF IV U.S. 3 LLC for $75 million, or nearly $341 per square foot. The five-story Class B property in on 1 acre at 179 Lincoln St. in the Midtown submarket. The structure was built in 1899 and renovated in 2008. … Read more
This week’s People of Note includes the following markets: Atlanta, Austin, Boston, Chicago, Denver, Houston, Las Vegas, Los Angeles, Phoenix, San Antonio, San Diego, San Francisco and South Bay. LOS ANGELES Griffin Capital Taps Sales Veteran as Pres. of Capital Markets By Laurie Forbes Griffin Capital Securities hired Jeffery Schwaber as president of capital markets … Read more
We are pleased to announce the sale of the Farmington Townhome Apartments, a 62 unit community located in Beaverton, Oregon and Exclusively Listed by Joseph Bernard, LLC.
The precipitous drop in the national homeownership rate, coupled with the emergence of an 80 million–strong Gen Y demographic now entering peak renting age, has most housing experts convinced that the multifamily apartment market is on the cusp of a historic boom.
According to research firm Marcus and Millichap, asking and effective rents increased in the Austin, Texas, metropolitan area were projected to end 2011 more than 3 percent higher year-over-year. The city's rental market performed strongly in 2011, which the firm attributes to a positive employment outlook and limited construction of new units. Employers added 2… … Read more
New projections from forecasting firm Property and Portfolio Research (PPR) suggest average rents and median household incomes will increase at comparable rates, The Wall Street Journal reports. The forecast indicates rental property management firms and landlords will be able to raise rents in 2012, the news source suggests, rather than having that capability dulled. The… … Read more
Rental property management firms and landlords should be aware of the effect developing government policy may have on the multifamily sector. According to Apartment Finance Today, government tax code reforms may negatively impact the industry. With lawmakers and government officials struggling to cut spending and find new revenues to resolve the federal budget deficit and… … Read more
The apartment sector of the U.S. real estate industry experienced 5.8 percent revenue growth during 2011, according to MPF Research. A recent report from the firm indicates the national occupancy rate climbed 1.1 percent while effective rent growth was 4.7 percent, driving that increase. Analysts did note some regional shifts, such as declining revenues in… … Read more
It occurs to me that if these REITs go public, DLA relinquishes any control over them, once they get listed on an exchange. How many clients are going to hang around with Mr. Lerner and his (cough!) counselors after that? These shares will be stuffed into ScottTrade accounts, and there goes the bulk of DLA’s … Read more