Industry Voices Archives

Kathleen Milisky, principal, Utility Revenue Services

Smart Utilities Management Can Eliminate Pain Points and Reduce Unnecessary Costs

by Channing Hamilton February 21, 2024

— By Kathleen Milisky of Utility Revenue Services (URS) — Every developer knows all too well the headaches that can arise from utilities while building or managing a community. Time lost to issues such as power outages, delayed inspections and miscommunication can add unnecessary costs to any project. Smart utilities management is an effective way to stay ahead of problems before they start. Owners have the option of turning responsibility for the utilities over to an expert before they even pull a construction trailer onto the development site. It can …

February 21, 2024

Development Finance Florida Industry Voices Investment Sales Southeast

Miami Market Deep Dive with Cushman & Wakefield’s Robert Kaplan

by Channing Hamilton January 19, 2024

Miami is bolstered by a strong tourism sector and population growth, but how has the market fared through the economic tumult of 2023? Multifamily & Affordable Housing Business (MAHB) recently interviewed Robert Kaplan, executive managing director at Cushman & Wakefield, about the state of the market. Kaplan and his team are the newest members of Cushman & Wakefield’s Equity, Debt & Structured Finance group, which provides a full-spectrum financial services platform to both domestic and international clients. MAHB: Can you contrast the differences in multifamily transactions in Miami between 2023 and 2022? Kaplan: …

January 19, 2024

Adam Wolfson, CEO, Wolfson Development Co.

Build-to-Rent Finance Florida Industry Voices Operations Southeast

Economic Forces Brew a Perfect Storm for Build-to-Rent

by Channing Hamilton January 8, 2024

— By Adam Wolfson and Darryl Kasper of Wolfson Development Co. — Against a backdrop of recently proposed (though unlikely to pass) legislation aimed at forcing large build-to-rent (BTR) and single-family-rental investors to shed units and convert them to for-sale housing, BTR fundamentals — and the investment case for the sector — remain strong as ever. While debatably well-intentioned, the legislation mistakes correlation for causation. The BTR sector is indeed benefitting from problems in the housing market. However, these problems pre-dated the industry and are more likely caused by factors …

January 8, 2024

Industry Voices Investment Sales Midwest Northeast Southeast Texas Western

The 411 on 1031s: What to Know Before Making a Tax-Deferred Swap in the Multifamily Sector

by Channing Hamilton October 16, 2023

1031 exchanges are an effective way for investors to protect their capital. They also historically have experienced strong fundamentals in the long term. Why, then, aren’t more multifamily investors taking advantage of tax-deferred swaps? Many property owners simply lack the expertise and industry connections to source acquisition opportunities that meet their objectives. This is especially true considering the tight timeframe many 1031 exchanges operate under, as these types of deals have a built-in ticking clock. Once an investor sells an asset, he or she has 45 days to identify a …

October 16, 2023

Edward Ring, Founder and CEO, New Standard Equities

California Industry Voices Leasing & Marketing Operations Western

Six Questions About California Eviction Moratoriums With New Standard Equities Founder and CEO Edward Ring

by Channing Hamilton October 4, 2023

Multifamily & Affordable Housing Business: How did each jurisdiction define the moratoriums in California? Did it vary? Ring: The eviction moratoriums began in California during the outbreak period of COVID-19. The immediate response from state and local governments was to prevent landlords from evicting non-paying residents via an ‘emergency order’ declaration. Each jurisdiction settled on their own methodology and created a near-impossible set of rules for landlords who operate in multiple cities. Often, a county had a set of rules, the city had a set of rules, and the state …

October 4, 2023

Industry Voices

Necessity Will Drive AI Adoption in Commercial Real Estate

by Lynn Peisner October 2, 2023

— By Jack Swoboda and Ross Piermarini, co-founders, SymmetRE — We are living in a unique moment. A transition period. The advancements made in artificial intelligence (AI) in the past year have put a massive spotlight on the technology. Practical use cases that were once a dream are now becoming a reality. Before we dig deeper into the effects AI can have within commercial real estate, it is important to first define the types of technologies we are talking about. The term “artificial intelligence” gets thrown around pretty freely these …

October 2, 2023

Development Industry Voices Investment Sales

Multifamily Developers Adapt as Strong Demand Meets a Volatile Economy

by Lynn Peisner September 25, 2023

— By Peter DiCorpo, COO, Brook Farm Group — The multifamily sector has been on a tremendous run for more than a decade, attracting record levels of new construction and capital and generating strong rent growth that has occasionally reached into the double digits. However, given the recent economic and market headwinds, some might conclude that this notable level of activity is over, but that is not the case. Instead, there are clear signs that this sector is poised for long-term growth and will continue to deliver solid returns for …

September 25, 2023

Industry Voices Leasing & Marketing Midwest Northeast Operations Southeast Texas Western

Renter-Friendly Security Deposit Legislation Is a Sea Change for Property Managers

by Channing Hamilton September 18, 2023

— By Revital Gadish, CEO, Qira — More than a third of Americans rent their homes, according to the U.S. Census Bureau. As such, the political landscape is evolving to fit their needs. An influx of new laws and proposed legislation has ensued, aimed at increasing transparency and fairness and avoiding financial hardship for tenants. Much of the ensuing legislation is focused on security deposits. The strictest of the bills bans security deposits entirely, while others are capping the amount landlords can charge as a security deposit. So far, Texas, …

September 18, 2023

Architecture & Design Development Industry Voices Midwest Minnesota

Architecture Spotlight: Bowline in Champlin, Minnesota, Weaves History Into Residential Design

by Channing Hamilton September 11, 2023

The 160-acre Mississippi Crossings site in Champlin, Minnesota, was a thriving commercial district in the early part of the 20th century. From the 1980s until the early 2000s, however, the area had been in decline for many years and was mostly known for its dilapidated commercial buildings, according to the City of Champlin. After a few redevelopment efforts started and stalled, the city entered into a development agreement in 2019 with Greco to be master developer of 12 acres within the Mississippi Crossings site. Greco is a Minneapolis-based commercial developer, …

September 11, 2023

Industry Voices Leasing & Marketing Midwest Northeast Operations Southeast Texas Western

Owners and Operators Are Relying on Automation to Power Through Challenging Economic Environments

by Channing Hamilton September 5, 2023

— By Mark Peters, President of Zego, a Global Payments (NYSE: GPN) company The pendulum that has swung in favor of property owners over the past four years appears to be swinging back toward renters — rapidly. Data from the CoStar Group show a dramatic deceleration in rent increases. At the same time, inflation, high interest rates and industry layoffs have combined to create a more challenging economic environment for multifamily property owners and operators. As a result, many owner-operators are shifting away from a growth-oriented mindset, instead focusing on optimizing their …

September 5, 2023