Category: Business

Source: Trepp The Trepp CMBS Special Servicing Rate dropped six basis points in January to 5.11 percent – down for the second month in a row. Six months ago, the rate was 4.79 percent, and 12 months ago, the rate was 6.33 percent. The January rate declined again after four consecutive increases from August to […]

MHN Voices panelists. Clockwise from top left: Greg Faulkner, Humphreys and Partners Architects; Barret Lowell, Harrison Street; David Rose, Student Living CA Ventures; Donna Preiss, The Preiss Co.; Suzann Silverman, MHN. Photo by Michelle Matteson for MHN Student housing performance indicators have typically shown the asset class to be rather flat performance-wise when compared to […]

The Oaks of Shorewood. Image courtesy of JLL Capital Markets JLL brokered the transaction on behalf of the seller and also secured acquisition financing for the buyer. The Fannie Mae loan will be serviced by JLL Real Estate Capital LLC. The only age-restricted community of its kind in Milwaukee County, The Oaks of Shorewood comprises […]

Downtown Raleigh. Image by Mark Thomas via pixabay RXR has acquired the Veridea, a mixed-use development in Apex, N.C. The site, which exceeds 1,000 acres and is zoned to include multifamily and single-family residences, townhouses and commercial space, was acquired for $91 million. More than 1,000 multifamily units are to be constructed by RXR in […]

Mira Raleigh. Image courtesy of Origin Investments/Spandrel Development Partners A joint venture of Origin Investments and Spandrel Development Partners is developing a residential project in the Southeastern U.S. The partnership will develop the $87.4 million Mira Raleigh property, a 288-unit community in Raleigh, N.C., that’s set to be completed next year. The JV has already […]

Coral Rock Development Group has unveiled plans for Card Sound Key Apartments, a 342-unit community with a workforce housing component in Florida City, Fla. The City Commission unanimously approved the development in January; construction is slated to commence in the first quarter of next year and expected to be finished by early 2025. Card Sound […]

Bryan Lockard and Brian Chandler Uncertain economic conditions played a major role in investor activity within the commercial real estate market this past year. Treasury rates more than doubled from 2021 to 2022 resulting in increased borrowing costs and limited capital markets activity, particularly in the second half of the year.  The economy also had […]

When do you think the pace of financing and transactions will pick up? Only 12 percent of respondents see the fourth quarter as the time when financing and transaction numbers will increase, a time when deal-makers try especially hard to close. Its place in between the expected third-quarter stabilization of inflation and the majority-expected deal-making […]

Penler Cherokee. Image courtesy of McShane Construction Co. PENLER is set to develop Penler Cherokee, a 192-unit multifamily community in the Atlanta suburb of Acworth, Ga. McShane Construction Co. has been selected as general contractor and Dynamik Design provided architecture services. Completion is slated for August 2024. The garden-style project is set to incorporate eight […]

River City Landing. Image courtesy of Yardi Matrix Koda Capital has purchased River City Landing Apartments, a 320-unit community in Jacksonville, Fla., for $30.9 million. The seller, Toro Real Estate Partners, had acquired the property in 2019 for $25.6 million, according to Yardi Matrix data. NAI Hallmark brokered the current deal on behalf of both […]