Although it might defy conventional wisdom, Class A apartments in high-supply markets are outpacing Class B assets on year-over-year rent growth, according to RealPage Analytics. New apartment supply is at its highest annual level since 1986, when approximately 550,000 new units were delivered, and continues to be the primary influence on national apartment performance, per […] The post Class A apartments in high-supply markets outpace Class B on year-over-year rent growth appeared first on Yield PRO ..read more

As I have shared before, I grew up in a rural part of California in a farmhouse built in 1913 which was surrounded by 1.5 acres of grapes, oranges, walnuts, and various farm structures. It was a miracle the house was still standing when we moved in given the semi-chewed condition of the knob and […] The post The sun will heat it appeared first on Yield PRO ..read more

The Multifamily Economic and Market Commentary for April from Fannie Mae focused on the conversion of commercial property to residential uses. It looked at different approaches and discussed the factors that may dictate the role conversions play in providing new housing over the next few years. Setting the background The increase in the number of […] The post Studying commercial to residential conversions appeared first on Yield PRO ..read more

Leading financial services provider Merchants Capital announced the promotion of Evan Gibson to Executive Vice President, Capital Markets. Gibson’s team has securitized or transferred risk on more than $5.2 billion in multifamily and healthcare loans from Merchants Bank’s balance sheet, resulting in significant capital relief. The team has expanded Merchants’ pool of institutional investors and […] The post Merchants Capital Promotes Evan Gibson to Executive Vice President, Capital Markets appeared first on Yield PRO ..read more

KKR and Blackstone Real Estate Income Trust said that KKR-managed funds would acquire a portfolio of 19 purpose-built student housing properties from BREIT for approximately $1.64 billion. The over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states. The communities feature a wide […] The post KKR to Acquire $1.64 Billion Student Housing Portfolio from BREIT appeared first on Yield PRO ..read more

Miami developer Mast Capital has moved into the Fort Myers, Florida, market for the first time with the start of construction at Hancock Bridge Square, which will consist of 320 garden-style units on a 14.5-acre site. Construction financing includes a $65 million loan through New York-based Centerbridge Partners. Delray Beach, Florida-based Kaufman Lynn is the […] The post Mast Capital Begins Construction on 320-unit Hancock Bridge Square in Fort Myers Florida appeared first on Yield PRO ..read more

Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Vero Beach Apartments in Vero Beach, Florida, for $2,350,000. “The Vero Beach Apartments sold to a 1031 exchange buyer from Broward County,” said River Rhoads, associate. “This sale exemplifies a notable shift […] The post Marcus & Millichap Facilitates $2.35M Sale of Vero Beach Apartments appeared first on Yield PRO ..read more

CIM Group has opened The Jayne, a 69-unit, six-story apartment building with six units designated as affordable and approximately 5,453 square feet of ground-floor retail. The Jayne is an infill housing development bringing new apartments to the West Adams neighborhood, which offers a mix of historic buildings and established businesses alongside entrepreneurs that have chosen […] The post CIM Opens Affordable Apartment Complex The Jayne in LA’s West Adams Neighborhood appeared first on Yield PRO ..read more

The Housing Authority of the City of Alameda (AHA) is pleased to announce that over 100 new affordable homes are coming to the City of Alameda via two new housing developments (The Estuary I and Linnet Corner). The developments of Block A (The Estuary I, The Estuary II, and Linnet Corner) represent the first phase […] The post The Housing Authority of the City of Alameda Announces Construction Has Commenced for The Estuary I and Linnet Corner Affordable Housing Developments appeared first on Yield PRO ..read more

Wilks Development and Frisco Economic Development Corporation signed a development agreement that launches Phase One of construction and development for Firefly Park. The project is a 242-acre mixed-use, master-planned development including 159 acres owned by Wilks Development and 59 acres owned by Frisco EDC. The heart of the development will be a 45-acre signature park and […] The post Wilks Development and Frisco EDC Announce Partnership for Firefly Park to Bring 1,970 Rental Residential Units Plus More to Frisco appeared first on Yield PRO ..read more