Multifamily Property News, Features, and Investment Insights

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Multifamily Aquatics Management: More than Pool Chemicals

Mention the words “apartment, aquatics, and amenities,” and what likely comes to mind are swimming pools. Certainly, pools are standard with many properties and require management to ensure the health and safety of residents. However, according to Phil Carter, The Amenity Collective’s Executive Vice President, there’s more to these aquatic amenities than shock chemicals and...

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CONAM Adds to Fund Holdings with $40 Million Buy of Sonterra Apartments

The CONAM Group’s Strategic Investments Fund IV, LP, expanded its holdings by acquiring the 136-unit Sonterra Apartments in the Sacramento, CA, suburb of Roseville. The San Diego buyer acquired the asset for $40 million and a 5.25% cap rate through an off-market deal. The seller was not identified. A CONAM source told ApartmentBuildings.com that Sonterra...

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$565 Million Brickell Loan Highlights Capital Availability for Luxury Residences

Developer Ytech secured $565.4 million in construction financing for The Residences at 1428 Brickell, a 195-unit, luxury, 70-story condominium tower in Miami’s Brickell Financial District. JLL’s Debt Advisory Team arranged the loan with JP Morgan and Sculptor. According to JLL Director Paul Adams, the deal successfully closed due to multiple factors. “The credit markets are...

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203-Unit Vintage Portfolio Sells for $41 Million Following 50-Year Hold

Pictured above: Mayfield Park Apartments, San Bernardino, CA Two vintage Southern California multifamily properties, developed more than 50 years ago, were sold to a local private investor for a total of $41.1 million. The family-owned, third-generation portfolio was developed in the late 1960s and 1970s, comprising the 120-unit Springbrook Park Apartments and the 83-unit Mayfield...

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Changing NIMBY Opinions About Affordable Housing: Q&A with CHOC’s Joy Silver

One solution to America’s housing crisis is to build more affordable units for lower-income populations. However, even when knowledgeable developers slice through the bureaucratic red tape and obtain the necessary tax credits and funding to build, they must also work with community residents who don’t want “those types of apartments” in their area. ApartmentBuildings.com recently...

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Legado Ends Long-Term Hold on 439-Unit LIHTC Portfolio

Pictured: Park Stanton Place Senior Apartments Legado Companies, a developer and owner of affordable and market-rate properties, is ending its long-term ownership of two properties in Stanton, CA. The Beverly Hills-based owner has retained Newmark and Voit Real Estate Services to bring the 439-unit Stanton Low-Income Housing Tax Credit (LIHTC) Portfolio to market. “Legado is...

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Phoenix-Area Buyer Pays $10.5 Million for Marabrisa Condominiums’ 87-Unit Rental Block

A seasoned Phoenix-based investment company added to its multifamily stock through the acquisition of the Marabrisa Condominiums’ 87 rental units. The local buyer paid $10.5 million to a Canadian seller for ownership rights of the Class B asset at 234 N. 75th St., Mesa, AZ. The units are part of a 112-unit multifamily property that...

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Winter is Coming: Take Care of those Multifamily Outdoor Amenities

Labor Day, the start of meteorological fall and the equinox are firmly in the rear-view mirror. Meanwhile, colder temperatures, ice and snow aren’t too far off in the future. The good news is there’s still time for multifamily owners and operators to “winterize” outdoor amenity areas (think courtyards, swimming pools, rooftop terraces, fire pits and...

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