The Latest
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Tracker
Problem loans: Tracking the biggest multifamily delinquencies
Recent distressed transactions occurred in San Francisco, Washington, D.C., and Atlanta.
Updated June 13, 2024 -
2024’s top multifamily events
Dtmliving has you covered with a full list of the industry conferences, expos and meetings for the rest of the year.
Updated April 30, 2024 -
Nuveen strikes $100M deal with CalPERS
The nation’s fourth-largest owner is working to preserve housing for residents earning less than 80% of the area median income.
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Church kicks off $1B Brooklyn affordable housing project
The first phase of the Innovative Urban Village includes 376 affordable units and retail and commercial space.
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PROJECT SPOTLIGHT
Redgate’s wellness-focused waterfront apartments start pre-leasing near Boston
Gibson Point, located in Revere, Massachusetts, will offer spa services, treadmill desks and electric shuttles to the beach.
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Gilbane to develop $100M Purdue University dorm project
The four-story, 213,000-square-foot apartment complex on the college's Fort Wayne, Indiana, campus is part of a public-private partnership.
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EXECUTIVE MOVES
Scott Maddux named CEO at Sunstone Two Tree
John Maddux will become the firm's executive chairman.
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UC Berkeley cleared to continue student housing project at People’s Park
The California Supreme Court reversed a ruling that halted construction over resident noise concerns.
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Average rent rises to all-time high despite slow YOY growth
While market performance is following normal seasonal patterns, large delivery pipelines are a headwind on rents in the Sun Belt and other markets, according to Yardi.
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Q&A
Woody Stone sees more M&A coming in the management space
The president of Cushman & Wakefield Multifamily Asset Services says some larger owners are moving to limit the number of operators they work with.
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DEALS + STARTS
Nuveen lands Minneapolis-area property for almost $50M
Capreit sold the four-building, 282-unit complex that was built in 1998.
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Bellingham, Washington, apartment owner asks to join suit against ‘Walmart encampment’
Management claims that its tenants are leaving due to health and safety concerns related to a nearby settlement of people experiencing homelessness.
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EXECUTIVE MOVES
Hoffman & Associates names new CEO
JLL alum Brian Dawson will step into the role, replacing Mark Dorigan at the Washington, D.C.,-based developer.
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Developer backs out of apartment project near DC Metro station
JLB Partners’ recently approved plan in Silver Spring, Maryland, called for 390 apartments over commercial space.
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DEALS + STARTS
Former racetrack makes way for master-plan near Detroit
The Downs will contain 174 apartments, 53 condos and 245 homes and townhomes at full buildout, plus retail and parking spaces.
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Another DC building heads to auction
A second apartment in Washington’s NoMa neighborhood faces foreclosure.
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FBI raids Cortland office
The Atlanta-based owner and operator confirmed the search but said the company and its employees are not targets of the investigation.
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Staff matters, new survey of 400,000 online reviews says
More than 60% of positive property reviews — and 18% of negative ones — make mention of on-site teams, according to an AI-powered study.
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AvalonBay released from Washington, D.C., RealPage litigation
Dismissal requests from Highmark Residential and JBG were rejected in the antitrust suit.
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Q&A
How Bozzuto evaluates new construction projects
President of development Mike Henehan says the company is looking at location, partners and the overall structure of deals.
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DEALS + STARTS
Cityview, Greystar sell California property
Although a buyer wasn’t named, the 164-unit asset in Mountain View is now listed on Essex Property Trust’s website.
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DEALS + STARTS
Beachfront condos underway on rare Jersey Shore plot
The 132-unit Atlantic Club in Long Branch, New Jersey, will encompass units ranging from one to five bedrooms and 993 to 4,246 square feet in size.
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Ranger Properties’ Washington, DC, building sold at auction
HH Fund bought the 110-unit project in the city’s Union Market neighborhood for $38.3 million.
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Hotel conversions take top spot in adaptive reuse
Over 151,000 units converted from other building uses are in progress across the country — of which 34,000 are coming from hospitality.
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PROJECT SPOTLIGHT
Philadelphia redevelopment exudes Scandinavian vibe
Piazza Alta is the latest apartment complex in a former industrial center in the city’s Northern Liberties neighborhood.
Updated June 12, 2024