Cap rates on suburban garden apartments fell below rates for mid-rise and high-rise multifamily properties during the second quarter, according to recent data from MSCI-Real Assets.
US zoning is unique in at least two ways. The first is single-family zoning. The second way that US zoning is unique is the complete orientation around the car.
Businesses ranging from Pfizer Inc. to Silvercup Studios will fund the Homeless Assistance Fund that will provide services to people living on the streets or experiencing mental illness.
Which U.S. cities are viewed as attractive destinations for people looking to move?
Effective rents in Beantown fell during the pandemic, but have fully recovered and then some in the past two years.
Ortega’s holding firm Pontegadea has reached an accord to acquire the 64-floor luxury apartment complex for about $500 million. The building was sold by Carmel Partners.
Some buyers are trying to renegotiate prices, but a net result of recent moves could be a tightening in the spread between multifamily cap rates and yields on 10-year Treasuries.
Rents are soaring across the country as would-be homebuyers get priced out by the fastest-rising mortgage rates in decades and slide back into the overcrowded rental market.
With a shrinking delta in cap rates between assets of different vintage, many investors opt to go with lower risk newer properties and fewer capital expenditures.