News

JPMorganChase Commits $750B to Increase Housing Supply, Homeownership Over Next Decade

Apartment Buildings

JPMorganChase said Monday it intends to deploy more than $750 billion through 2035 to increase housing supply and support homeownership across the U.S. The nearly 40% increase over the firm’s housing capital deployment in the past decade will include financing for one million affordable housing units and lending to 500,000 homebuyers. The announcement comes as...

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Balfour Beatty, Stellar Tabbed for 2,217-Bed UF Student Housing Venture

Florida & Gulf Coast + Student Housing

Balfour Beatty, in partnership with the University of Florida (UF), will deliver 2,217 beds across four residential buildings, totaling more than 680,000 square feet. This is Phase 1 of a plan to add 10,000 new beds during the next 10 years, a $2 billion-plus initiative approved by the UF Board of Trustees. Balfour Beatty is...

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2026 Multifamily Leadership Series: Donald P. King III, Walker & Dunlop

Apartment Buildings

For the fourth year of Connect CRE’s annual Leadership Series, we’re focusing on the multifamily sector. We invited 18 apartment heavyweights to provide their unfiltered views of the current market, its challenges and opportunities. The insights of these power players have been collected in a downloadable report, and we’re also presenting them individually, in alphabetical order....

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Telus Turns Nanaimo Telecom Property Into 195-Unit Rental Community

Canada + Apartment Buildings

Telus Living has opened a new 195-unit purpose-built rental development on a former telecommunications property in downtown Nanaimo, B.C. The development is part of Telus’s push beyond telecommunications to convert underused network properties into rental housing as it replaces its legacy copper network with fibre infrastructure. The property at 235 Wallace St. offers homes ranging...

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Van Nuys Apartments Trade for First Time Since Delivery

California & West + Apartment Buildings

Marcus & Millichap closed the sale of 7203 Rubio Ave., a 30-unit multifamily property in the Lake Balboa neighborhood of Van Nuys. The property sold for $9.5 million or $316,667 per unit. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, secured $6,223,000 in acquisition financing.   “Bringing this property to market for the first time since its construction in 2013 generated significant investor interest,” said Neema Ahadian, senior managing director investments. “After a disciplined...

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Williamsburg Mixed-Use Sale Completes “Round Trip” for Seller

New York & Tri-State + Apartment Buildings

Marcus & Millichap closed the sale of 235-237 Kent Ave., two mixed-use buildings in Brooklyn’s Williamsburg neighborhood, for $16.4 million. “We are happy to successfully complete a round trip for our seller, whom we previously sold the property for $12.3 million in 2021 during the pandemic,” said Shaun Riney of Marcus & Millichap in New...

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First Project Under NYS Housing Acceleration Fund Closes on Financing

New York & Tri-State + Apartment Buildings

New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas announced that the first project under the Housing Acceleration Fund launched last year has closed on construction financing. North White Plains, a $178-million mixed-use transit-oriented development in Westchester County and located directly across from the North White Plains Metro-North Station, will feature 296 mixed-income apartments, retail and publicly...

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Colliers Facilitates Sale of 360-Unit Indiana Multifamily Property

Chicago & Midwest + Apartment Buildings

Colliers completed the sale of The Ridge Apartments, located at 1718 West 55th Avenue in Merrillville, Indiana. Morgan Properties acquired the community. The sale was led by the Colliers team of Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner, who represented the owner, Parkmont Group, a real estate investment and operating firm based in...

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