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A Philadelphia-based commercial real estate firm has announced the sale of three multifamily properties in the Lehigh Valley totaling more than $20 million. https://lnkd.in/gnsT3TRw

Transaction volume in the region's multifamily real estate market seems to be continuing to pick up momentum as a Southside apartment complex fetched eight figures just before the calendar turned over. For daily news and analysis subscribe to the https://lnkd.in/gnDiVmJB newsletter. #Multifamily #RealEstate #Housing

As we journey through 2024, the multi-family property market in Southern California continues to showcase its resilience and strength. Despite various market shifts, multi-family sales and price per unit are still trading near or at record highs. This is a testament to the robust demand and the enduring appeal of multi-family properties in this region. Interestingly, more private equity firms and institutional companies are placing their bets on the multi-family market. A notable example is KKR, a leading global investment firm, which recently acquired a portfolio of 18 multifamily assets from Quarterra Multifamily for approximately $2.1 billion. Another example is DivcoWest, a San Francisco-based company, which purchased the 214-unit Reveal Playa Vista, located at 5710 East Crescent Park, for $122 million. The deal came out to about $570,000 per unit. These trends of companies acquiring apartment buildings are clear indications of the strong market sentiment and the high potential of multi-family properties, especially in Southern California. This is in anticipation of lower rates in the future, which would put pressure on cap rates and increase the valuation of the buildings, as well as continuing the trend of rent increases. However, it’s important to note that the market is dynamic and constantly evolving. We continue to monitor the trends and adapt to these changing market conditions. #MultiFamilyProperties #RealEstateTrends #SouthernCalifornia https://lnkd.in/grDa3C5r

Here’s what’s scheduled for our InterFace Nashville Multifamily Conference will be held tomorrow, November 19th, at the Hilton Nashville Downtown. Tuesday, November 19th at 1:00 PM - 5:20 PM. 1:00 PM - 1:30 PM - Lunch Buffet & Networking 1:30 PM - 1:35 PM - Introductory Remarks Todd Liscomb, National Director, Interface Conference Group 1:35 PM – 1:50 PM - Opening Presentation Alex Lubell, Client Development Director, Engineered Tax Services 1:50 PM - 2:40 PM  - Financing Today’s Deals Nicholas Harb, Senior Vice President, BWE Tyler Muesch, Financial Advisor & Middle Tennessee CRE Manager, Pinnacle Financial Partners Chris Howe, Principal, Q10 Vista Commercial Mortgage Group Luke Hays, Vice President, IPX1031 Doug Hart, Senior Director, Walker & Dunlop Jim Andrews, VP, Business Development, Capital One - Moderator 2:40PM - 3:30 PM - Architecture/Design/Construction Lauren Miller, Senior Architect, Smith Gee Studio Weston Burt, Director of Business Development, Doster Construction Jason Shepard, CEO, dwell design studio Joseph Stryker, Principal & Southeast Region Director, DTJ Design Ripley Bickerstaff, Director of Business Development, HOAR Construction John Sexton, Vice President, Innovations Design Group - Moderator 3:30 PM - 3:40 PM - Networking Break 3:40 PM - 4:30 PM - Developers/Owners/Investors Panel Bryan Jacobs, Senior Partner & CEO, Bristol Development Jim Beckner, Jr., VP of Development, Mill Creek Residential Trust Khris Pascarella, Principal, Pearl Street Partners Kent Ayer, President, TDK Monroe Stadler, Director of Acquisitions, Freeman Webb Company Brian Tunnell, CEO, RentMonster - Moderator 4:30 PM - 5:20 PM - Investment Sales / Brokerage Panel Vincent Lefler, Executive Managing Director, Newmark Tyler Hogan, Director, Investment Sales, Berkadia Drew Lekowski, Investment Sales, Tennessee, MRG Realty Partners Bryan Schellinger, Senior Vice President, CBRE David Stollenwerk, Director, Institutional Property Advisors - Moderator Click to Register: https://ow.ly/uBHF50TvpQE Special thanks to our sponsors: dwell design studio, llc, Investment Property Exchange Services, Inc (IPX1031), Institutional Property Advisors (IPA), D12 Commercial Interiors, The Roof Depot, LLC, Floor and Decor, RentMonster, DTJ DESIGN, Inc., Aiphone, Top Floor Insurance, Hoar Construction, Capital One, SGS, Innovations Design Group, and France Media Inc. #Multifamily #CRE #IFNashvilleMultifamily

Vista Apartment Sale Among Highest in CA REAL ESTATE: Preserve at Melrose Sold to Chicago Firm for $185M By Ray Huard VISTA – A Vista apartment complex, Preserve at Melrose, has been sold for $185 million in one of the biggest apartment sales in California in 2024 and the second largest of the year in San Diego County. Built in 2015 with 410 apartments at 1401 Melrose Drive, Preserve at Melrose was sold by MG Properties Group based in Sorrento Valley to Mesirow Institutional Real Estate Direct Investments, a Chicago investment firm. “San Diego (County) remains a top target nationally for investors, making up 10% of all U.S. multifamily transactions and 23% of those in California, year to date,” said Hunter Combs, managing director of investment sales at Walker & Dunlop. Walker & Dunlop brokered the deal on behalf of MG Properties. “Suburban, low-density apartments seem to be the most attractive today, especially of this vintage, so there’s not much you have to do to it,” Combs said. “The capital that wants to be in San Diego (County) has a preference for some of these suburban locations, like Vista, especially with the growth that’s occurring in Vista.” Combs said that Mesirow will make some minor improvements to the property to make it more competitive with other nearby apartment complexes but is not planning any major renovation work. “They don’t need to do any heavy lifting on this one,” Combs said. Alasdair Cripps, CEO of Mesirow, said that the Preserve was “one of North County San Diego’s most attractive multifamily properties,” partly because of its proximity to mass transit and employment centers. Although 2024 was a slow year for apartment building sales, Combs said that the market shows signs of improving. “What we haven’t seen is the ‘70s and ‘80s vintage product selling. I think we’re going to start seeing more of that come back and that will lead to significantly more transactions,” Combs said. https://lnkd.in/gNWFizYt #apartments #housing #commercialrealestate #apartments #apartmentsale #multifamily

Strong Rental Demand Drives $72M Sale of Chicago North Side Apartment Portfolio A longtime owner recently sold a 17-building portfolio totaling over 300 units on the North Side. This is particularly interesting because high interest rates have generally cooled commercial property sales. However, strong rental demand on the North Side attracted significant investor interest. Here's why this sale is noteworthy: Limited new supply - Chicago's apartment inventory has grown slower than the national average, creating a tight rental market. High occupancy rates - This translates to investor appetite for well-located properties in Chicago. Neighborhood Dynamics - While markets like Sun Belt face oversupply concerns, Chicago's North Side offers stable, attractive opportunities. This news aligns with my observations of a positive outlook for the Chicago multifamily market, particularly in areas with limited new construction. #ChicagoRealEstate #Multifamily #RealEstateInvesting https://lnkd.in/gMm4hGFQ

🚨 Palms / Mar Vista / Culver City Apartment Market Update for Q3 2024 🚨 The Los Angeles apartment market saw mixed trends in Q3 2024 compared to the same period last year: 📉 Median price per square foot (PSF) decreased 3% 📈 Median price per increased 23% 📈 Median capitalization remained unchanged at 0 bps 🔄 Transaction volume decreased with 11 transactions in Q3 2024 (compared to 22 in Q2 2023) Rental market trends: 📈 Effective rent per unit slightly decreased at 1% 📊 Vacancy rate went up 43 basis points Looking ahead, the recent Federal Reserve interest rate cuts in September 2024 are expected to boost transaction volumes later in the year, creating favorable conditions for buyers and sellers. Presented by:  True North CRE  John Swartz, Los Angeles Apartment Investment Advisor Swartz Jacqueline Carroll, Multifamily Specialist Carroll Considering a strategic exit from the market? Let the True North CRE Team be your trusted partner. Our full-service approach ensures clarity and confidence in every decision. Reach out for a complimentary valuation to get started today! #LosAngeles #MultiFamily #CommercialRealEstate #Landlord 

🚨 Palms / Mar Vista / Culver City Apartment Market Update for Q3 2024 🚨 The Los Angeles apartment market saw mixed trends in Q3 2024 compared to the same period last year: 📉 Median price per square foot (PSF) decreased 3% 📈 Median price per increased 23% 📈 Median capitalization remained unchanged at 0 bps 🔄 Transaction volume decreased with 11 transactions in Q3 2024 (compared to 22 in Q2 2023) Rental market trends: 📉 Effective rent per unit slightly decreased at 1% 📊 Vacancy rate went up 43 basis points Looking ahead, the recent Federal Reserve interest rate cuts in September 2024 are expected to boost transaction volumes later in the year, creating favorable conditions for buyers and sellers. Presented by: True North CRE John Swartz, Los Angeles Apartment Investment Advisor Jacqueline Carroll, Multifamily Specialist Considering a strategic exit from the market? Let the True North CRE Team be your trusted partner. Our full-service approach ensures clarity and confidence in every decision. Reach out for a complimentary valuation to get started today! #LosAngeles #MultiFamily #CommercialRealEstate #Landlord

Los Angeles Multifamily Market Outlook Contact me to discuss the latest scoop in real estate! #homeforsale #openhouse #vendetucasa #realestateadvice #losangelerealestate #larealestate #californiarealestate #californiahomes #losangelesrealestate #larealestateagent

2025 is starting off with some high-dollar multifamily deals: ElseWarehouse, a converted apartment building in the North Loop has sold for $347k a unit ($40.25M total). This is compared to the most expensive 2024 deal when accounting for price-per-unit, The Maverick (also in North Loop) for $304k per unit ($51.2M total) https://lnkd.in/g5QzDegA Meanwhile, last week came the news of the sale of 610 West in Brooklyn Park, a Doran Group-developed property with 480 units, which sold for a total price of over $110 million. The most expensive total price for a property in 2024 was Indigo Apartments, which sold for $80 million. https://lnkd.in/gehfGrA9