Investors Still Willing to Pay Top Dollar for Multifamily
“Many investors are counting on demand for apartments to remain relatively consistent even if the economy weakens due to demographic and social trends.” By Erika Morphy Multifamily acquisition yields and price per unit have hovered at record lows for several years despite Treasury yields moving up and down by more than 150 basis points during […]
Why Multifamily Is Primed for More Growth
There are few clouds on the horizon for the sector—and plenty of reason to expect that more growth will be had in 2020. By Erika Morphy The multifamily market has been watching with some consternation the rental caps established in states and local areas. But that aside, there are few clouds on the horizon for […]
CBRE Capital Markets Multifamily Finance Update
[vc_row][vc_column][vc_column_text css=”.vc_custom_1578590867641{margin-bottom: 0px !important;}”] CAPITAL MARKETS BRIEFS Happy new year. May you have a productive and enjoyable 2020. A decade ago, the U.S. and the multifamily market were just coming out of a recession. The national GDP had fallen 2.5% in 2009, but then spent the next decade expanding, climbing 2.3% per year on average. […]
OneWall Goes Preferred Equity Route On First Workforce Housing Fund
[vc_row][vc_column][vc_column_text css=”.vc_custom_1572368477713{margin-bottom: 0px !important;}”] The fund, Nova Appian Preferred Income Fund I, is targeting $50m for the niche strategy. By Peter Benson OneWall Partners, a Newark, NJ-based real estate private equity firm focused on workforce housing, has launched its first fund, a preferred equity vehicle targeting workforce housing adjacent to gateway northeastern US markets. “Preferred […]
Demand increases for transit-oriented workforce housing: Opportunities for investors and renters
By Ron Kutas In June, NYS passed the Housing Stability and Tenant Protection Act of 2019, a far-reaching effort to expand the scope of rent regulations. The impact has been swift and dramatic. In addition to the long-term effects on the NYC rental housing market, the act has prompted a broad shift among investors who previously […]
Multifamily Demographics Positioned for More Growth
By Tanya Sterling DENVER—With expanding populations, a growing preference for renting and the majority of new jobs in the economy low-paying thus making homeownership challenging, the multifamily industry forecasts upwards of one million new renter households a year. As a result, most multifamily experts believe the sector will flourish and prosper well into the 2020s. For […]
OneWall Partners Appoints Kerri Haltom As SVP of Property Management for Growing Portfolio
One Wall Partners, an owner and manager of transit-oriented workforce housing, is pleased to announce that it has hired Kerri Haltom as Senior Vice President of Property Management for the company’s portfolio, which has grown to more than 3,600 units in New Jersey and Pennsylvania. Haltom will oversee the property management division as the company continues to […]
Reeling from new rent control laws, N.Y.C. investors set their sights on New Jersey
By David Gill A landmark package of new rent control laws passed by the New York State government in mid-June appears to have kick-started a new kind of boom for the New Jersey real estate market. The laws, which dramatically strengthened tenant protections in New York City, took key steps such as repealing what was […]
Making a market: Developers, city officials look ahead as renters arrive in downtown Newark
One Theater Square, a 22-story tower across from the New Jersey Performing Arts Center in downtown Newark, launched leasing last June and was more than 60 percent leased through late May. The luxury building developed by Dranoff Properties is home to 221 market-rate apartments and 24 affordable units. — Courtesy: Dranoff Properties By Joshua Burd […]
New Jersey’s Unemployment Rate Reaches Record Low
Gains were realized in both the private (+9,600) and public (+600) sectors of the state’s economy, according to statistics released by the New Jersey Department of Labor. By John Jordan TRENTON—The latest job numbers for the Garden State can be summed up in two words—record setting. Gov. Phil Murphy reported on Thursday that the state’s […]
