Operations

The Somerset in Winthrop, Massachusetts.

Why Apartment Investors Remain So Bullish On Boston

by Channing Hamilton May 24, 2023

Commercial developers don’t receive the same sunny embrace in Boston compared with other booming multifamily markets to the south. NIMBYism exists everywhere, but developers face a litany of objections and roadblocks to new construction in Beantown. Labor unions, antiquated zoning practices and a scarcity of development sites are some of the barrier-to-entry culprits. In this challenging climate, Boston multifamily is typically summarized by one word: undersupplied. A modest amount of new development combined with strong renter demand ensures most properties will achieve rent growth and occupancy levels that investors like …

May 24, 2023

St. Paul Collection in Denver, Colorado.

Colorado Company News News Operations Western

Asset Living to Manage St. Paul Collection in Denver

by Channing Hamilton May 18, 2023

DENVER — Asset Living has been awarded management of St. Paul Collection, a 165-unit building in Denver’s Cherry Creek North neighborhood, three miles southeast of downtown Denver. St. Paul Collection offers one-, two- and three-bedroom floor plans. Community amenities include a pool with hot tubs and day beds, a lounge, fitness center, sun terrace, bike storage and a coffee bar. Asset Living took over management for the community in March 2023.

May 18, 2023

Company News News Operations Texas

Asset Living Awarded Management for Two Communities in Houston Metropolitan Area

by Channing Hamilton May 17, 2023

HOUSTON AND RICHMOND, TEXAS — Asset Living has been awarded management of two properties in the Houston metropolitan area. District 28 is a 299-unit community in Houston’s Medical Center South neighborhood. The property offers one- and two-bedroom floor plan, as well as amenities such as a pool and fitness center. Haven at Bellaire is located in the southwest Houston suburb of Richmond. The community offers 297 one- and two-bedroom units. Amenities include a pool, outdoor kitchen and a fitness center with a yoga and spin studio. Asset Living took over …

May 17, 2023

Colorado News Operations People News Western

Aimco Appoints Sherry Rexroad to Board of Directors

by Channing Hamilton May 17, 2023

DENVER — Apartment Investment and Management Co. (Aimco) has appointed Sherry Rexroad to its board of directors. Rexroad has been appointed to Aimco’s audit, compensation and human resources, investment, nominating and ESG Committees. Rexroad most recently served as Chief Financial Officer of STORE Capital, a publicly traded net-lease REIT. Prior to that, she worked at BlackRock Global Real Asset Securities as global head of business development, as well as co-global chief investment officer and chair of the investment committee.

May 17, 2023

A chart depicting national disasters across the U.S. Texas has the most disasters.

Finance Industry Voices News Operations

Economic Headwinds Are an Opportunity in Disguise for Multifamily Sector

by Channing Hamilton May 9, 2023

— By Marc Hershberg, Topaz Capital Group — The multifamily industry has grown massively over the past decade. Total transaction volume was up 250 percent from 2012 to 2018, the biggest year on record. For many, 2020 or 2021 were their best years yet. Even when faced with multiple headwinds in 2022 that included ongoing supply chain disruptions, rising inflation and interest rate hikes, the overall resiliency of commercial real estate was on display. Now, however, we are faced with more economic uncertainty than we’ve experienced in the past 15 …

May 9, 2023

A 3D render of Ltd. Med Center, a contemporary-style community in Houston.

Features Investment Sales Northeast Operations Washington, D.C.

MAA Reclaims Top Spot in NMHC’s Ranking of Top 50 Apartment Owners

by Channing Hamilton April 24, 2023

WASHINGTON, D.C. — Mid-America Apartment Communities (MAA) has reclaimed the title of largest apartment owner in the U.S., up from the No. 2 spot a year ago. Even though MAA owns fewer units today than it did in 2022, when its portfolio size was 100,002 units, the company dethroned Starwood Capital Group from the top of this year’s list. MAA previously held the No. 1 spot in 2021. The newly released ranking from the National Multifamily Housing Council (NMHC) shows Germantown, Tennessee-based MAA owned 99,676 units at the end of 2022, …

April 24, 2023

Company News Development Florida News Operations Southeast

Merrimac Selects Altman to Manage $90 Million Broward County Project

by Lynn Peisner April 20, 2023

PLANTATION, FLA. — Merrimac Ventures has selected the Altman Management Co. (AMC), a division of The Altman Cos., to manage Leena Plantation in Plantation. The 306-unit property is under development by Fort Lauderdale-based Merrimac and is scheduled to open this summer. Leena Plantation is comprised of one- to three-bedroom units. The $90 million project broke ground in 2021 and consists of two six-story buildings. Amenities include a club room, pool, covered terrace, barbecue grilling stations, two exterior courtyards, a fitness center, a coworking and business center with private offices and …

April 20, 2023

Company News Illinois Leasing & Marketing Midwest News Operations

RMK Selected to Manage Fieldpointe of Schaumburg

by Lynn Peisner April 12, 2023

SCHAUMBURG, ILL. — RMK Management Corp. has been named property manager of Fieldpointe of Schaumburg, a 396-unit community in Schaumburg, Ill., a northwest suburb of Chicago. Fieldpointe comprises 12 three-story buildings and features studio, one- and two-bedroom layouts measuring 548 to 948 square feet. Rents range from $1,382 to $1,950. The property is pet-friendly and offers a pool, covered or garage parking, bike storage and package services. Capital improvement projects are scheduled at Fieldpointe in the coming months, including a roof replacement and cosmetic updates to shared corridors. Chicago-based …

April 12, 2023

A 3D render of Altra Kendall, a white multifamily community behind a pond with a fountain.

Company News Florida Georgia News Operations Southeast

Altman, RAM Partners Form Property Management Partnership

by Channing Hamilton March 28, 2023

FORT LAUDERDALE, FLA. — Altman Management Co. (AMC), a subsidiary of Fort Lauderdale-based The Altman Cos., has formed a partnership with RAM Partners. RAM Partners is a full-service third-party residential property management company based in Atlanta. RAM Partners will provide support to AMC’s property marketing, training, business systems and revenue management teams, as well as the firm’s ancillary services department. AMC will continue to handle resident-facing functions such as leasing and property management. AMC currently manages more than 27,000 units across 105 communities.

March 28, 2023

Orchard at Hilltop, a three-building multifamily building atop a hill.

Features Operations Southeast Virginia

NAA Survey Respondents Overwhelmingly Say Rent Control Policies Affect Investment, Development Plans

by Channing Hamilton March 28, 2023

ARLINGTON, VA. — More than 70 percent of housing providers say that rent control policies impact their investment and development plans, according to a newly released survey from the National Apartment Association (NAA). In addition, two-thirds of respondents say they would not consider investing in markets with strict rent control policies. The survey — which examined the consequences of rent control policies in cities across America — was conducted by NDP Analytics and commissioned by NAA. From December 2022 to February 2023, NDP conducted 24 interviews with housing providers and developers …

March 28, 2023

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