Renter application fraud has become a growing nuisance for apartment owners like Camden Property Trust, as more and more tenants provide fake documents to sign a lease and never pay rent, banking on a lengthy eviction process and lax enforcement. …
Orlando-based Holidays Network Group paid $27M for a Miami Beach apartment building that is approved for conversion into a 107-room hotel, The Real Deal reports. The 88-unit apartment complex at 2618 Collins Ave. was sold by a joint venture of investors Eli Dadon, Avi Dishi…
As rent growth declines and new construction progresses, oversupply is a hot topic in the multifamily industry. Now, fresh data shows the impact of elevated supply could fall heaviest on the high-end properties that make up the bulk of scheduled new deliveries….
Just in time for the holidays, renters are being gifted more perks when leasing apartments in a market that is delivering more supply. Landlords are offering at least one concession on 30% of rental listings, the highest rate in two years, according to a…
Developers are finding that hundred-year-old flour mills and textile factories are too tough to die. A nationwide trend to renovate and repurpose the buildings is spreading. About a year from today, an adaptive reuse project in a 400,000-square-foot mill in…
LaTerra Development has joined forces with experienced Opportunity Zone investor Revitate to break ground on Bedrock, a new Build-to-Rent community in Albuquerque. Revitate has led or co-led over 15 opportunity zone projects in excess of $1.4 billion in project value. The project…
Marcus & Millichap finalized the sale of a 0.16-acre parcel of land located in San Diego. The asset sold for $1,600,000. Aaron Bove, senior managing director investments in Marcus & Millichap’s San Diego Del Mar office, marketed the property on behalf of the seller, 3971 Georgia…
Securing a mortgage to buy a home has become more expensive than at any time since 2000, making people less likely to move and restricting the migration flows that have become more common during the pandemic. The number of existing…
Aria Development Group, Largo and Place Projects have landed a $77M construction loan from Arkansas-based Bank OZK provided for a 105-condo project in Brickell, according to a release. The five-story development, called 2200 Brickell on the financial district’s Millionaire’s Row,…
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