Broadstone Berry Hill, south of Nashville, offers direct views of GEODIS Park. Image by Iran Watson courtesy of Alliance Residential Co. Broadstone Berry Hill, south of Nashville, offers direct views of GEODIS Park. Image by Iran Watson courtesy of Alliance Residential Co. Broadstone Berry Hill, south of Nashville, offers direct views of GEODIS Park. Image by Iran Watson courtesy of Alliance Residential Co. Alliance Residential Co., in a joint venture with The Carlyle Group, has opened Broadstone Berry Hill, a 303-unit luxury asset in metro Nashville, Tenn. The developers had secured $64 ..read more

Since November 2022, more than 900 residents in the U.S. have used Airbnb’s platform to create a listing and earn extra income, according to Stein. Image courtesy of Airbnb Since November 2022, more than 900 residents in the U.S. have used Airbnb’s platform to create a listing and earn extra income, according to Stein. Image courtesy of Airbnb Since November 2022, more than 900 residents in the U.S. have used Airbnb’s platform to create a listing and earn extra income, according to Stein. Image courtesy of Airbnb With all costs rising over the past few years, both residents and apartment ..read more

Charlotte Commons came online in 2022. Image courtesy of JBM Institutional Multifamily Advisors Charlotte Commons came online in 2022. Image courtesy of JBM Institutional Multifamily Advisors Charlotte Commons came online in 2022. Image courtesy of JBM Institutional Multifamily Advisors SC Bodner Co. has sold Charlotte Commons, a 264-unit multifamily community in Port Charlotte, Fla., for $66.5 million. The buyer was a joint venture between Image Capital and an unnamed New York-based operator. JBM Institutional Multifamily Advisors brokered the transaction. Completed in 2022, the property ..read more

Leasing is ongoing at the completed portion of the property (right). Image courtesy of JLL Capital Markets Riverwalk has obtained a $49 million capitalization for the second phase of a two-part multifamily development in Elmwood Park, N.J. The financing was provided by JLL Capital Markets, which also provided construction financing for the previous phase. JLL secured a $32 million, three-year, floating-rate loan through Provident Bank, and also sourced $17 million in preferred equity from Hickory CRE Lending. The capitalization supports the development of the 150-unit, two-building Riverwalk ..read more

The Palms at Cape Coral is next to a man-made lake. Image courtesy of Greystone Young Development has secured $41.6 million in the form of a Fannie Mae DUS loan for The Palms at Cape Coral, a 280-unit luxury multifamily asset in Cape Coral, Fla. Kyle Jemtrud, Greystone Managing Director, originated the refinancing and Kevin Coscia of Largo Capital acted as correspondent. The non-recourse, fixed-rate loan carries a 10-year term with 30-year amortization and 5 years of interest-only payments. This retires a 2021 construction loan from First Horizon Bank, according to Yardi Matrix data. The asset ..read more

New Hope Housing has recently broken ground on New Hope Housing Ennis, a 102-unit fully affordable and age-restricted housing community in downtown Houston. The New Hope Housing Ennis development is within the Harris County. Image courtesy of New Hope Housing The New Hope Housing Ennis development is within the Harris County. Image courtesy of New Hope Housing The New Hope Housing Ennis development is within the Harris County. Image courtesy of New Hope Housing New Hope Housing Ennis will cater to individuals over the age of 55, earning between 30 and 60 percent of the area median income ..read more

Bryan Lockard As we progress through the first half of the year, investor attitudes towards senior housing and care are adjusting to new market conditions, as reflected in JLL’s 2024 Investor Survey and Trends Outlook. While challenges still persist, there appears to be an optimistic sentiment surrounding the sector, with 63 percent of investors planning to increase their investment exposure to senior housing in 2024 and another 29 percent committed to maintaining their current level of investment. This sentiment stems from the sector’s demonstrated resilience and an anticipated surge in deman ..read more

Tom Dao This is a challenging market cycle for commercial real estate, but that doesn’t mean there are not bright spots that continue to shine for investors. In that context, self storage continues to enjoy access to the full spectrum of debt sources even where challenges exist. That is saying something. While higher rates impact proformas and access to debt across the major asset classes, as a commercial mortgage banker with a depth of expertise in self storage, I continue to look for the signs of a weakening debt market for self storage but have yet to see a meaningful change to the liquidit ..read more

Stor-Mor Self Storage is 10 miles east of downtown LA. Image courtesy of Yardi Matrix Stor-Mor Self Storage is 10 miles east of downtown LA. Image courtesy of Yardi Matrix Stor-Mor Self Storage is 10 miles east of downtown LA. Image courtesy of Yardi Matrix SecureSpace has acquired Stor-Mor Self Storage, a 44,351-square-foot facility in Rosemead, Calif. A private owner sold the property for $11.3 million, according to Los Angeles County records. Completed in 1979, the three-story building comprises 659 units, ranging between 30 and 250 square feet. The property also includes 96 rentable p ..read more

Angela Kelcher As the commercial real estate industry faces structural imbalances in the housing market, the preservation and creation of affordable housing have become critical imperatives. The current landscape demands a closer examination of market conditions and an exploration of the actions taken by federal, state, and local governments to address this challenge. By understanding the supply constraints and leveraging strategic initiatives, the industry can foster affordable housing and contribute to a sustainable future. Multi-housing and single-family markets deficits Renter households a ..read more