Stamford firm sells N.J. apartment buildings for $30 million
by Paul Schott STAMFORD — OneWall Communities, a Stamford real estate firm focused on workforce housing, announced this week the $30 million sale of two apartment buildings in Newark, N.J. The transaction includes the six-story, 108-unit building at 103 Chancellor Ave., and the five-story, 83-unit building at 25 Van Velsor Place. OneWall officials declined to […]
OneWall Communities Acquires Suburban Maryland Apartments for $97M
BY Keith Loria OneWall Communities has acquired Heather Hill Apartments, a 459-unit garden-style apartment complex in Temple Hills, Md., for $97 million, Commercial Observer has learned. Hampshire Properties was the seller, having acquired the property in 2013 for $57 million. “It has been a well-run, wellcared-for asset for many years that still offers many avenues to add value […]
Half Of Freddie Mac, Fannie Mae Loans Earmarked For Affordable Properties
Officials will require half of all federally backed loans to be for mission-driven properties, or those with an affordability component, with increased focus on deep affordability. A total of 25% of Freddie Mac and Fannie Mae loans will be for properties with rents set at up to 60% of the area median income, Wealth Management reports. That figure marks an […]
OneWall sells 301-unit East Orange workforce housing portfolio for $53 million
By Joshua Burd An apartment owner has sold a five-building, 301-unit portfolio in East Orange for $53 million, under a transaction arranged by CBRE. The deal by OneWall Communities, which operates transit-oriented and suburban lifestyle workforce housing, comes less than five years after it began to acquire and launch a series of renovations to […]
Apartment Demand Smashes Previous Record High by 66%
RealPage reports that incoming residents are bringing in big incomes. By Paul Bergeron For the vast majority of market-rate renters, apartments remain affordable and these renters moving in are bringing big incomes, according to recent data from RealPage. Demand for market-rate apartments in 2021 soared far above the highest levels on record in the three […]
Nearly 1M Renters Priced Out of Home Ownership
The income a household needs to pay a mortgage rose to $62,872, up from $55,186 last year. By Paul Bergeron Many first-time buyers continue to struggle to move into homeownership amid sustained price growth and competition from all-cash buyers. The share of first-time buyers fell to 26% in November, according to the November REALTORS Confidence […]
Why Institutional Investors Are Bullish on Multifamily
The asset class is delivering a bond-like return, according to two institutional owners at the GlobeSt.com Multifamily conference this week. By Kelsi Maree Borland There are a lot of reasons to invest in multifamily today. Following the pandemic, apartment investors are enjoying substantial rent growth, record low vacancy rates and an attractive supply demand imbalance. […]
These Major Suburbs Are Now Mostly Renters
RentCafe predicts that 57 more suburbs will flip to renter-majority over the next five years. by Linda Pollack Renters are now the majority in more than 100 US suburbs, including the suburbs of Miami, Washington DC, and Los Angeles, according to a new report from RentCafe. About 21 million people rent a home in the suburbs of […]
‘Recipe for a Healthy Kid’ available at East Orange YMCA’s Healthy Kids Day
EAST ORANGE, NJ — Following a year of social distancing, virtual school, mask wearing and many hours of screen time, the East Orange YMCA is hosting its annual Healthy Kids Day on Saturday, Sept. 18, from 10 a.m. to 2 p.m. The in-person event will feature physically distanced activities and be in accordance with COVID-19 recommendations […]
Apartment Retention Rates Surge to Near Lockdown-Era Peaks
There are several factors driving this rebound. By Jay Parsons Apartment retention rates are soaring back to lockdown-era highs, as more renters are determining that staying in place is often the best and most affordable option – given a remarkable lack of alternatives for all types of housing and for all price points. The share of […]
