News

B.C. Multi-Family Market Will Face Many Challenges This Year: Goodman

Canada + Apartment Buildings

British Columbia’s multi-family real estate market will face many challenges this year as it grapples with geopolitical uncertainty, ongoing high borrowing costs, large supply and a in market dynamics caused by an increase in sales listings, says a leading apartment-sales specialist. “We have several headwinds,” said Mark Goodman, founder and principal of Goodman Commercial. “The...

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Pets and Apartments: Challenges for Multifamily Owner/Operators

Apartment Buildings

For many renters, pets are more than, well, pets. They’re family members. This has led multifamily owner-operators to incorporate pet-friendly policies that boost occupancy and retention. However, that same report listed unintended consequences of allowing Rover or Fluffy in rental units, which is why Foxen issued its first Multifamily Pet Management Trends report. “The same...

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More than Guesswork: Data and Technology for Multifamily Management Effectiveness

Apartment Buildings

It’s no secret that apartment property managers/operators have a lot on their plates. In addition to rent collection and tenant screening, they oversee maintenance, manage costs, and work with owners to determine optimal lease rates. On top of that, operators are responsible for understanding the current housing regulations while keeping residents satisfied. Curtis Holder Doing...

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Broccolini Shifts Toronto Condo Project to Rental

Canada + Apartment Buildings

Broccolini is moving ahead with The Riv as a purpose-built rental project in Toronto’s downtown-east corridor. The 37-storey mixed-use development will deliver more than 350 rental units, with construction expected to begin in the coming months and completion targeted for 2029, said Broccolini. Originally planned as a condominium project, The Riv has been repositioned to...

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JV Breaks Ground On $144M Richmond Mixed-Use Project

Washington DC + Apartment Buildings

Hoffman & Associates and DeBartolo Development broke ground today on 3200 West Moore Street, a $144 million 400,000-square-foot mixed-use residential community in Richmond’s Scott’s Addition neighborhood. The six-story development will include 366 apartment residences and approximately 18,000 square feet of ground-floor retail, creating a vibrant new destination along West Moore Street. At full buildout, the...

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JLL Facilitates Sale of Luxury Apartments in St. Paul

Chicago & Midwest + Apartment Buildings

JLL announced today the sale of The Hill Apartments, a 162-unit luxury apartment community located in St. Paul’s historic Cathedral Hill neighborhood. JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Josh Talberg, Director Joseph Peris and Analyst Eli Smith, who represented the seller, Wolverton Capital. The Hill represents a rare, 100%...

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Harrison Street Secures $136M Refi on Jersey City Loft Apartments

New York & Tri-State + Apartment Buildings

Cushman & Wakefield served as the exclusive advisor to Harrison Street Asset Management in arranging $136 million of refinancing for Modera Lofts, a 366-unit multifamily property located at 350 Warren St. in Jersey City’s Powerhouse Arts District. The loan was provided by J.P. Morgan. A Cushman & Wakefield Equity, Debt and Structured Finance team of...

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AVE Opens Navy Yard Apartment Project in Philadelphia

Washington DC + Apartment Buildings

AVE, the residential brand of Philadelphia-based Korman Communities, in partnership with Ensemble Investments and Mosaic Development Partners, officially opened AVE Navy Yard. AVE Navy Yard anchors Philadelphia’s first new neighborhood in a generation, delivering 614 contemporary apartments across two complementary communities – Normandy and Constitution – along with 75,000 square feet of on demand wellness,...

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