Top stories and aggregated facts on Multifamily Real Estate, curated for Investors and Business Partners.
We are excited to announce that CGI+ has closed on the acquisition of Park Place, a 275-unit multifamily community in the Orlando, FL submarket of Oviedo for $68.95 million. This acquisition caped off a busy year for CGI+ with more than $625 million in transaction activity in 2021.
Apartment communities are seeing a boost in high income-earning resident applicants.
A growing number of wealthier new renters come from the millennial generation, who are driving the burgeoning lifestyle-renting market. At the same time, many would-be buyers are bowing out of the residential real estate market, trends are showing, according to RentCafe.
Investors can’t take their eyes off of the Western and Southeast U.S. apartment markets.
Multifamily investment activity has roared back after “a couple of weak quarters” during the pandemic, said Richard Barkham, global chief economist and head of Americas research at CBRE said at the recent GlobeSt.com Multifamily conference.
The fourth quarter typically is a month for apartment rents to fall, or at least cool a bit. Not this year. The multifamily housing industry continues to defy trends, and also continues to march higher, according to recent data from RealPage.
Both multifamily building permits and starts were up in October, following a trend of upward momentum seen since the end of the Great Recession, RealPage reported.
Despite heightened out-migration, the Southern California apartment market should continue to see strong rent growth over the next year due to the strong economy boosted by increasing spending on consumer goods, according to a newly released report by the USC Lusk Center for Real Estate.
CGI+ Real Estate Investment Strategies has closed on the acquisition of a 275-unit multifamily community in the Orlando, FL submarket of Oviedo for $68.95 million.
To further Leverage.com’s mission of democratizing knowledge about commercial real estate, we started an interview series with all kinds of CREF pros: everyone from multifamily and medical to cannabis and construction. This time we connected with Gidi Cohen, Founder and CEO of CGI+, a boutique real estate investment and strategy firm that provides personalized high-quality service and performing assets.
The asset class is delivering a bond-like return, according to two institutional owners at the GlobeSt.com Multifamily conference last month.
U.S. occupancy for market-rate apartments is at an all-time high of 97.3%, according to RealPage, Inc. data for September.