DC Multifamily Sales Volume Surpasses 2025 Total
The Washington, D.C., multifamily market has shown further signs of stabilization as the pace of new deliveries has slowed, coinciding with easing employment losses, according to a recent report by Northmarq.
Investment activity strengthened in the third quarter, with 16 properties trading for $1.8 billion, pushing year-to-date volume above the 2025 total. The year-to-date median sale price is $297,800 per unit. Regional vacancy declined 10 basis points to 5.7%, the first quarterly decline in more than a year, though it remains 60 basis points above one year ago.
Asking rents were unchanged from the second quarter but remain down 0.8% year-over-year. Northern Virginia rents were nearly flat from a year ago, and the decline in Class A rents has narrowed. How broad the recovery becomes regionally will depend on the District and Suburban Maryland, where trades include smaller and older assets and where vacancy has eased for two straight quarters, but rents are still falling.
Other News
Work Begins on 420-Unit Residential Development in Ballston
Hoffman & Associates, alongside development partners Snell Properties and Mitsui Fudosan America, Inc. (MFA), today broke ground on 4600 Fairfax, a new residential community in Arlington’s Ballston neighborhood. Spanning more than four acres, the approximately 550,000-square-foot development will deliver 420 residential apartment units and more than 380 parking spaces in a seven-story multifamily building as...
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Dallas Okays Zoning for Massive Mixed-Use Project
Burk Interests and Greenway Investment Co. have been greenlit by the Dallas City Council to build an $800 million mixed-use project. The 9-6 vote was illustrative of the uphill battle the developers faced during the process. The vote came after the height requirements were reduced from 325 to 199 feet, effectively allowing a 17-story building....
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H&R Unitholders Reject $6.7B Breakup Of 20M-SF Portfolio
A more than 20M-SF portfolio spanning Canadian warehouses, offices and U.S. apartments will stay under H&R REIT’s control after unitholders voted down a $6.7B breakup Friday. The Toronto-based landlord may now sell its industrial properties separately. H&R terminated the agreement immediately. The REIT will stay listed on the Toronto Stock Exchange and owes the buyers...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout