TruAmerica Multifamily’s Post

The newest issue of Northeast Multifamily & Affordable Housing Business has arrived – see why “NYC Investors Hunt for Distressed Deals” in the cover story. Higher interest rates and tougher regulations stalled many apartment deals in 2023, but some distressed owners may be forced to sell in 2024.  By Bendix Anderson; insights from – James H. Simmons III, Asland Capital Partners; Elie Rieder, Castle Lanterra ; Douglas Eisenberg, A&E Real Estate; Joe Koicim, Marcus & Millichap; Peter Carillo, Investment Sales / Greater New York Area, HKS Real Estate Advisors; Eric Brody, Anax Real Estate Partners. Inside this Issue How Do I Ensure My Dog Park Will be a Howling Success?  Your tenants and their canine companions will keep coming back to a pet amenity space that is thoughtfully planned, well designed and diligently maintained.  By John Sarver, Gyms For Dogs™ Northeast Renters Rate Top 10 Most Desired Apartment Features, Community Amenities Comfort, safety and everyday convenience are among top preferences of survey respondents.  By Sarah Yaussi, National Multifamily Housing Council Gen Z: 90 Million Renters Who Command Our Attention Invest in apartment construction that catches the eyes of young tenants and watch your lease renewals and occupancies grow.  By Tim Mustard, AIA, TCA Architects, Inc. Read the issue: https://lnkd.in/e-2AfsMd #NortheastMultifamily #Multifamily #AffordableHousing #CRE Scott France

"Brace Yourselves, Renters: Miami's Skyrocketing Multifamily Construction and What It Means for Your Next Lease 🏗️🌴 #MiamiRealEstate #sunbelt "7% interest rates are hitting single-family home builds hard, but multifamily projects are thriving, particularly in Sunbelt hotspots. Miami alone could add 17% more rental housing soon. That's a win for renters seeking fresh options, but a setback for older complexes. However, these new pads are mostly in the luxury bracket, leaving few options for average earners. Planning to rent in places like Miami, Charlotte, or Austin in the next 12-24 months? Get ready for more variety, but leave your bargain-hunting hat at home. #miamirealestate #multifamily #costar #realestatetrends

Wadsworth Multifamily is pleased to offer for sale Sunset Springs, 124 units located in St. George, Utah. The property was built in 1987 and has been meticulously maintained by the current owner. Rents are well below market. An investor can potentially increase the rent on the market rate units by approximately 50% and the NOI by 90%. Value-add Opportunity • Family Owned Asset • Owner Managed • Well-maintained property • Potential to Increase Rent on Market Rate Units 50%+ • Potential to Increase NOI by 90% • Income Restrictions Expire in 14 Years Excellent Location • Fantastic Marketing Window Fronting Sunset Boulevard • Walkable to Restaurants, Shops, and Services • Easy Access to World-class Recreation High Growth Market • Highest Employment Growth in Utah at 4.5% • Population to Increase 155% over next 40 years • Unemployment among the lowest in the Nation at 2.3% • Twice as Expensive to Buy than Rent • Apartment Market Occupancy Averages 96% • Apartment Shortage anticipated to continue through 2027 Don’t miss this chance to own Sunset Springs. This is a once-in-a-generation opportunity to invest in an asset with substantial upside, in a market with unparalleled security and growth unique to St. George, Utah. #utah #realestate #multifamily #apartments #investmentsales #stgeorge

🏢Multi-Housing News rounded up the 10 Most Affordable Multifamily Markets, and asked our Founder & CEO Matt Picheny for his thoughts. 🗣️"𝘈𝘤𝘳𝘰𝘴𝘴 𝘰𝘶𝘳 𝘱𝘰𝘳𝘵𝘧𝘰𝘭𝘪𝘰, 𝘸𝘦 𝘢𝘳𝘦 𝘴𝘦𝘦𝘪𝘯𝘨 𝘴𝘵𝘦𝘢𝘥𝘺 𝘰𝘤𝘤𝘶𝘱𝘢𝘯𝘤𝘺 𝘢𝘯𝘥 𝘮𝘰𝘥𝘦𝘳𝘢𝘵𝘦 𝘳𝘦𝘯𝘵 𝘨𝘳𝘰𝘸𝘵𝘩, 𝘨𝘦𝘯𝘦𝘳𝘢𝘭𝘭𝘺 𝘪𝘯 𝘵𝘩𝘦 2% 𝘵𝘰 4% 𝘳𝘢𝘯𝘨𝘦" says Matt Picheny, founder & CEO of Picheny, owner, and operator of almost 4,000 units in Texas.💼 See the comments to find out which cities made it to the top of the list for Affordable Multifamily rents and why they are worth considering. #RealEstate #AffordableHousing #Multifamily #BackstageGuide #PassiveIncome

🏙️ When you think of multifamily properties, towering high-rises and sprawling apartment communities probably come to mind. However, don't let that overshadow the small yet mighty players in the multifamily market: properties with 5 to 49 units. These small multifamily buildings are crucial to the housing market and deserve our attention and support. 🏠🫶 Read how these small multifamily properties have an outsized influence on the market through our latest blog https://hubs.ly/Q02DfTln0 #MultifamilyHousing #RealEstate #PropertyManagement #Conservice #TheUtilityExperts

Check out my latest piece for Conservice - the impact of small #multifamily properties. #contentmarketer #conservice

Metonic was proud to break ground on three developments in 2023, totaling an additional 623 apartment homes to be added to our multifamily portfolio! 📍 Millennium Apartments in Palm Desert, CA 📍 Gretna Landing in Grenta, NE 📍 Square Apartments in Omaha, NE Read more about the top ten things to happen at Metonic in 2023 in our blog: https://lnkd.in/gb3Sywb9 #multifamilyinvesting #multifamilyrealestate #omahamultifamilydevelopment

🏢 The Printhouse, a 72-unit multifamily property in New Rochelle, has been sold for $22.75 million. This is a significant development in the local real estate market. Click the link below to find out more about this sale. #RealEstateNews #ThePrinthouse #NewRochelle #PropertySale #RealEstateMarket #MultifamilyProperty #RealEstateInvestment #PropertyNews #RealEstateTransaction #PropertyMarket  

This stat will blow your mind. I had a chance today to read through the Wadsworth Multifamily report for Salt Lake City Q3. When comparing homeownership to renting in the area, they provided this wild statistic: Right now, the cost of owning a home is 1.9x the cost of renting. Something has to change, this unaffordability can't continue. #realestate #affordability #CRE #saltlakecity Access the report here:

Greystar is at the top - not surprisingly! But check out these delivery stats - "Nationally, the multifamily market added 565,000 units in 2023, a 40-year high, according to a report from CoStar’s Apartments.com. The onslaught of new units won’t end soon—another 443,000 rental apartments are in the pipeline, with most of them scheduled to be delivered in the first half of the year." https://lnkd.in/gvZ4Aik7