News

Fresno-Area Apartments Trade to Family Office

California & West + Apartment Buildings

Northmarq’s Fresno-based Multifamily Investment Sales team, led by Robin Kane and Brendan Kane, brokered the sale of a 64-unit multifamily community for more than $19 million. Built in 2019, Tempranillo Apartments is located at 2445 E. Copper Ave. in suburban Clovis’ Woodward Park neighborhood. Northmarq represented the seller, an East Coast-based investment group. The buyer was...

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Lurie Proposes Local Housing Bonus Program as Alternative to State’s

California & West + Apartment Buildings

As part of a legislative package that seeks to rezone parts of San Francisco to facilitate more housing development, Mayor Daniel Lurie introduced Housing Choice San Francisco, a new local housing bonus program. An optional alternative to the state’s density bonus program, the local housing bonus program provides market-rate developers with a variety of options...

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Avison Young Expects CRE Investment to Increase in Second Half of Year

Canada + Apartment Buildings

Canadian commercial real estate investment is expected to increase in the second half of 2025 despite ongoing concerns about U.S. tariff negotiations, according to a mid-year outlook from global advisor Avison Young. A survey of more than 150 of the firm’s Canadian experts found that 93% anticipate market activity will either remain stable (48%) or...

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Kurtz to Redevelop Old Town Scottsdale Property

Phoenix & Southwest + Apartment Buildings

FalconEye Ventures, founded by billionaire George Kurtz, wants to redevelop a five-acre parcel in Old Town Scottsdale to turn it into a mixed-use project that will include multifamily units and retail. The project will feature a five-story multifamily residential building with 232 units and approximately 32,000 square feet of ground-level retail. The Phoenix Business Journal...

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NMHC Survey on Development Activity Shows Mixed Market Conditions

Apartment Buildings

Results from the latest National Multifamily Housing Council (NMHC) Quarterly Survey of Apartment Construction & Development Activity indicate mixed market conditions currently, but greater optimism over the longer term, NMHC said Wednesday. Fewer respondents reported delays or repricing of deals downward compared to three months ago, yet in a newly added question on whether market conditions will...

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Gilbert BTR Community Trades for $66.1M

Phoenix & Southwest + Apartment Buildings

Cavan Cos. sold The Bungalows at San Tan Village, a 159-unit build-to-rent (BTR) community in Gilbert for $66.1 million, according to Commercial Edge. AEW Capital Management was the buyer. The asset traded for $415,723 per home. AEW said the investment’s cap rate was 4.9 percent. Located on nearly 15 acres at 2120 E. Ray Road,...

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Dadeland Office-to-Apartment Conversion Underway

Florida & Gulf Coast + Apartment Buildings

Keystone Property Group is in the midst of converting a Dadeland office building into apartments on an 8-acre site at 9500 S Dadeland Blvd. The property currently has three office buildings, each with a combined 405,462 square feet of space, plus a parking garage. They were built between 1972 and 1982. The South Florida Business...

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Starlight Breaks Ground on Large BTR Project in U.K.

Canada + Apartment Buildings

Starlight Investments has broken ground on a major build-to-rent (BTR) real estate development in Basildon, U.K., near London. Toronto-based Starlight says the groundbreaking marks a key milestone in the firm’s housing creation strategy. The three-block mid-rise project will deliver 492 one- and two-bedroom rental suites and 16,000 square feet of revitalized street-level commercial and retail...

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