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Rebrand and Refresh Creates Value for New Owner
Castle Lanterra Properties renovated Asher, which resulted in meaningful rent premiums, provided proof of concept and substantial upside potential for the new owner at a purchase price of $70 million. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
L.A. Apartment Rent Growth Continues to Slow
Apartment rents increased .06% year-over-year in June and were flat month-over-month. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
One of Portland’s Largest Loans Sets Construction in Motion
An affiliate of Mosaic Real Estate Investors provided BPM Real Estate Group with $460 million in senior construction financing for a 1-million-square-foot mixed-use development in downtown. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
Comstock Expands Loudoun Station’s Residential Offerings
BLVD Gramercy East and BLVD Flats will open in Spring 2020. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
Multifamily Absorption Reaches 5-Year High
Building in the US apartment sector remains at three-decade highs, RealPage also reports—which could lead to near-term risk. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
New Augmented Reality App Helps Owners Curate Artwork
Morison Hotel Gallery launches an augmented reality app to virtually create art galleries and accessory selections. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
Berkadia Arranges Multiple Multifamily Sales in Florida and Georgia
Laramar Group, which has offices in Chicago and Denver, acquired the 379 units at the 432-unit condominium for $49.65 million from Aspen Square Management of West Springfield, MA. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
Seattle House Master Use Permit in Place for 1MSF
A 38,934-square-foot half-block in downtown Seattle adjacent to Amazon’s headquarters recently sold totaling a land value of $60 million, amid plans for a mixed-use multifamily development. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
Removal of Multifamily Rent Restrictions Means Higher Rents
The vast majority of income-restricted properties have 15 years of mandatory compliance, then after that, ownership can apply to have the property removed from the program, which can take up to a year. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
AppFolio Launches New AI Property Management Tool
The new AppFolio Property Manager includes an AI leasing assistant to respond to automate the leasing process. Continue Reading at GlobeSt.com Click Here. Press Release Distribution Service
