HOUSTON, TX – BSR Real Estate Investment Trust announced that it has acquired Broadstone Park West, a 370 suite, garden style residential community in Houston, Texas for US$51 million from Starlight Investments. The transaction was financed through a combination of a draw on the REIT’s credit facility of approximately US$40.0 million and the issuance of…
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Foreign buyers continued to pull back for the second year, purchasing $74 billion of U.S. existing homes from April 2019–March 2020, a 5% decrease from the prior 12-month period.
Try as the industry might, apartment communities are struggling to make the search for an apartment a fun one. This, according to 200 respondents to an online survey conducted June 1 to July 15 who indicated that they “always plan to be a renter,” completing a 50-question survey from Roost. When asked to define their…
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WATERBURY, CT – In keeping with its mission to preserve affordable housing, national not-for-profit The NHP Foundation ( NHPF ) announced that it has purchased Waterbury, CT, senior affordable property, Exchange Place Tower. The original construction of the building was made possible with rental assistance support from the U.S. Department of Housing and Urban Development…
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Can a city change my property zoning without my permission? Yes, a city can change your zoning classification without your permission. Legally speaking, zoning is an exercise of what is known to be police power. It does not happen often, and we’re not saying it is a fair practice. But it is possible. “Police power”…
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The housing market is bouncing back, with multiple offers on houses and record low mortgage rates. However, inventory remains a problem and could become a bottleneck. A reintroduction of the lockdown due to the pandemic could also negatively affect the market.
Economist Outlook: Land Market Outlook in 2020 Q3 REALTORS® expect to have more sales transactions in residential and industrial land sales in the third quarter. By: Scholastica (Gay) Cororaton
MINNEAPOLIS, MN – Reuter Walton Development, a Minneapolis-based award-winning real estate company specializing in developing outstanding, community-driven project, and Northwestern Mutual, one of the nation’s largest real estate investors, are slated to welcome home residents to the area’s newest luxury apartment community, The Asher, in October 2020. The brand-new 220,000-square-foot community in Minneapolis features 175…
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Over the last year or so, as proptech has exploded, showering the multifamily industry with new and exciting technology, it has become harder to understand the return on technology implementations. As we wrote earlier this year in our 20 for ‘20 white paper, an ever-growing vendor population is competing to deliver ostensibly the same benefits to…
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LOS ANGELES, CA – Mountain Pacific Opportunity Partners, a Los Angeles-based capital provider for multifamily development with a focus on Opportunity Zones, announces the closing of 336 W. Seventh Street, a 34-unit mixed use development in San Pedro, Calif. In partnership with South Bay Developers and ARK Construction & Development Inc., the $14M development is…
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