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Thought Leaders: May 2024

Executives from Harbor Group, Greystar, AvalonBay and more talk about their latest challenges and successes.

‘Worst’ yet to come for commercial real estate: Conference Board

Many banks have pursued a policy of “extend and pretend” to avoid writing off troubled commercial real estate loans, according to a Conference Board economist.

Lion Real Estate Group moves into Charlotte, North Carolina

The real estate investment and asset management firm has acquired a 225-unit apartment complex in the northern part of the the city.

May 2024 roundup: New multifamily products

Payment management and resident tech support are among the new services available this spring.

Inside AvalonBay’s strategy to woo residents who work from home

The REIT has redesigned dining spaces, bedrooms, common areas and even operations to accommodate renters who work remotely.

States see wave of squatting-related legislation

Florida, New York and other states passed laws this spring enabling removal of illegal residents, and similar bills are being considered in other jurisdictions.

Lendlease to exit international construction, development

Citing a prolonged market downturn, the Australian company is pivoting to focus solely on domestic work.

MSCI: Cap rates increase 50 bps to 5.4%

Transaction volume fell almost 50% year over year to $4.5 billion.

Flournoy launches new high-end multifamily brand

Ellison by Flournoy has seven projects in development, many of them in the Southeast.

REITs beat expectations in Q1

Strong occupancy and resident retention set the stage for outperformance.

Sustainability is a ‘differentiator’ for multifamily developers

With regulations and incentives now widespread, experts encourage looking at energy-efficient features with an entrepreneurial lens.

Apartment starts continue to drop

Permits also fell during April, while completions rose 18%.

The industry positions with the highest — and lowest — base salaries

Executive pay averages in the hundreds of thousands, while on-site and maintenance personnel salaries trend below the national average, according to a new report.

Harbor Group eyes more buys

The nation’s No. 19 apartment owner thinks the window is open to acquire newly built assets.

Consumer interest in wellness has reached a critical mass

Health-focused features drive value and revenue at multifamily properties, according to speakers at the Wellness Real Estate and Communities Symposium.

The top 10 residential builders of 2024

Even with high interest rates, most of the country’s top home builders have held steady or improved their closing numbers, according to Builder magazine’s annual ranking.

Renewal and new lease rates diverge for MAA

The REIT’s existing residents paid 5% more YOY in Q1, but supply pushed new rents down 6.2%.

Trepp: Servicing rate passes 5% for first time in 7 years

Apartment distress also jumped in April, according to Cred iQ.

Lynd expands third-party management services with new data tools

The owner-operator has also rehired Josué Garza as president of property management.

Contractors, owners wait out high interest rates

As long as the Fed doesn't raise already elevated rates, a steady environment could jump-start stalled projects.

EPA launches new Energy Star residential standard

The Energy Star NextGen Certification for New Homes and Apartments builds on the foundation set by the existing program.

Another massive San Fran portfolio heading back to its lender

Goldman Sachs and Ballast Investments are expected to hand 1,200 apartments to RBC Real Estate Capital Corp.

Dogs and cats are priority No. 1 for potential renters

Apartments that will accommodate pets are more in demand than air conditioning or in-unit laundry, according to Zillow.

Rents are on the rise again, moving close to all-time highs

Although multifamily operators face challenges including rising costs and high interest rates, demand is keeping absorption consistent in most markets.

Camden sees favorable trends in insurance, taxes and bad debt

Although supply remains a problem, demand is durable in the REIT’s markets.