Sunday, December 22, 2024
Read the Digital Magazines Subscribe to the Newsletter

Operations

Adam Wolfson, CEO, Wolfson Development Co.
Build-to-RentFinanceFloridaIndustry VoicesOperationsSoutheast

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

by Channing Hamilton

— 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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsOperationsTexas

Cushman & Wakefield Hires Nicholas Murphy as Senior Director

by Channing Hamilton

HOUSTON — Cushman & Wakefield has hired Nicholas Murphy as a senior director. Murphy will join the Equity, Debt & Structured Finance team at Cushman & Wakefield’s Houston office. In this role, he will advise clients in Texas on capital-stack strategies, with a focus on the multifamily sector. Murphy most recently worked as a director of acquisitions at Sync Residential. Prior to this, he was a director at Berkadia. Murphy graduated from the St. Edwards University and earned a master’s in real estate development at Arizona State University.

Continue Reading
0 FacebookTwitterLinkedinEmail
The operations panel at the 2023 InterFace Multifamily Southeast conference.
FeaturesGeorgiaLeasing & MarketingNewsOperationsSoutheast

Multifamily Operators Had to Work Smarter, Harder This Year, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Shortened attention spans and the desire for instant gratification are a couple of the changing consumer behaviors that impact the multifamily operations industry. Karen Key, a president with Houston-based Asset Living, said that 75 percent of consumers expect a response time in less than 24 hours from a business. Twenty percent expect a response time within minutes. “If you’re missing that mark and someone else is responding to them, whether it’s a client, prospect or resident, you’ve lost them. They’re gone.” Key’s remarks came during the operations panel …

Continue Reading
0 FacebookTwitterLinkedinEmail
The capital markets panelists at the InterFace Multifamily Southeast conference.
FeaturesFinanceGeorgiaNewsOperationsSoutheast

Contrarian View: InterFace Lending Panel Explains Why Multifamily Borrowers Should Refinance Today

by Channing Hamilton

ATLANTA — Depending on the era in which you came of age and the general experiences you’ve had in life, the notion that “things can always get worse” can be easy to endorse.  As it pertains to commercial lending and borrowing, the consensus narratives that have prevailed ever since the Federal Reserve began jacking up interest rates in early 2022 has largely followed the same script: “Hunker down.” “Survive till ’25.” “Delay and defer.” In other words, do whatever you have to do to avoid the sting of the 11 …

Continue Reading
0 FacebookTwitterLinkedinEmail
This line graph shows the effective funds rate versus the inflation rate for the period from 2020 through Nov. 1 of this year. (Source: St. Louis Federal Reserve, Origin Investments)
FeaturesFinanceIllinoisMidwestNewsOperations

Origin Report: Variable-Rate Loans Reaching Maturity Will Spawn Unique Investment Opportunities in 2024

by Channing Hamilton

CHICAGO — An analysis from Origin Investments (Origin) predicts a tumultuous 2024, with concerns of a recession and elevated interest rates likely to continue. Despite this, the Chicago-based real estate fund manager expects next year to bring unique opportunities for multifamily investors to secure protected positions in the capital structure and enhance investment returns. “The volume of variable-rate bank loans — made when the Secured Overnight Financing Rate was 0 percent and the 10-year Treasury note yield was below two percent — coming due in 2024 will create a generational …

Continue Reading
0 FacebookTwitterLinkedinEmail
Randolph Perimeter in Sandy Springs, Georgia
DevelopmentFeaturesFinanceNewsNortheastOperationsWashington, D.C.

Legislation to Establish Workforce Housing Tax Credit Introduced in U.S. Congress

by Channing Hamilton

WASHINGTON, D.C. — Senate Finance Committee Chair Ronald Wyden (D-Ore.), Sen. Daniel Sullivan (R-Alaska) and U.S. Representatives James Panetta (D-Calif.) and Michael Carey (R-Ohio) have introduced the Workforce Housing Tax Credit Act into the U.S. House and Senate. The bipartisan proposal would establish a Workforce Housing Tax Credit (WHTC) that would complement the Low-Income Housing Tax Credit (LIHTC). The Workforce Housing Tax Credit Act would establish a public-private partnership that allows state housing agencies to issue credit allocations to developers through a competitive process. These credit allocations would then subsequently …

Continue Reading
0 FacebookTwitterLinkedinEmail
Parkside on Dresden in Brookhaven, Ga.
DevelopmentFeaturesGeorgiaOperationsSoutheast

New Multifamily Starts to Slow to a Crawl in 2024, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Multifamily developers are bracing for the uncertainty of 2024 as their projects are delivering into a landscape where new supply is outpacing demand by a significant margin. In the third quarter, a total of 114,000 new multifamily units were delivered compared to 82,100 absorbed, according to research from CBRE. The absorption figure is technically rebounding as it represents the highest quarterly figure since early 2022, but there is still a sizeable delta compared to supply growth. The trailing four-quarter total for multifamily deliveries stands at 376,500 units, which …

Continue Reading
0 FacebookTwitterLinkedinEmail
New JerseyNewsNortheastOperationsPeople News

Woodmont Properties Selects Lewis Zlotnick as Executive Vice President, Daniel Miller as Chief Operating Officer

by Channing Hamilton

FAIRFIELD, N.J. — Lewis Zlotnick of Woodmont Properties will transition into the position of Executive Vice President of the company’s Florida division. Zlotnick will oversee Woodmont’s strategic expansion throughout Florida, where Woodmont has invested in about 4 million square feet of industrial development. He will continue to serve on the company’s Executive Leadership Committee, the Investment Committee and the independent Board of Advisors. Additionally, Woodmont Properties has promoted Daniel Miller to the role of Chief Operating Officer, where he will assume the responsibilities of Zlotnick. Miller will oversee Woodmont’s strategy, …

Continue Reading
0 FacebookTwitterLinkedinEmail
FeaturesFinanceInvestment SalesOperations

Bid-Ask Spread Continues to Throttle Down Multifamily Investment Sales, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Investors in the multifamily sector are having trouble getting deals done in 2023, and 2024 isn’t looking to start out much better. The culprit is the bid-ask spread — the gap between what sellers believe their property is worth and what buyers are willing to pay. That’s according to a panel of multifamily investors, several of whom described transacting in the present environment to be a “slog.” The panel, titled “Investment Outlook: When will the Bid-Ask Gap Narrow, the Market Stabilize and Transactions Resume in Earnest?,” was held …

Continue Reading
0 FacebookTwitterLinkedinEmail
Sligo Apartments in Silver Spring, Maryland
CaliforniaFeaturesFinanceOperationsWestern

Rental Income, NOI, Operating Expenses of LIHTC Properties Set Record, New Report Reveals

by Channing Hamilton

SAN FRANCISCO — The net operating income (NOI) of properties financed by low-income housing tax credit (LIHTC) equity increased by 7.4 percent in 2022, according to a report from Novogradac, a San Francisco-based accounting firm focused on real estate and community development. The NOI at these properties surpassed the inflation rate, which was 6.8 percent from December 2021 to December 2022, as the nation emerged from the worst of the COVID-19 pandemic. The 2023 LIHTC and Operating Expenses Report — published by Novogradac — tracked data from more than 186,000 affordable housing …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2024 France Publications, dba France Media Inc.