RHJ Investor

RHJ Investor is the department of Rental Housing Journal that speaks specifically to the interests and needs of real estate investors and apartment owners. Whether you're part or a REIT (real estate investment trust) , independently own large apartment communities, are a small landlord with 1 or 2 rental homes or choose to fix and flip, RHJ Investor is a great source for information. This site features how-tos and best practices for buying and selling property, real estate taxes, choosing property management and maintenance vendors, 1031 excahnges & TICs, apartment financing, budgeting and much more.

RHJInvestor.com is sponsored by National REIA

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Mon
19
Jun
The Editors's picture

Salt Lake City Company Buys Arizona Apartments For $77 Million

Salt Lake City company buys Arizona apartments in Tempe for $77 million

A Salt Lake City-based real estate investment and property management firm has purchased Arizona apartments called the Onnix, a 659-unit apartment property in Tempe, Arizona for $77 million, or $116,920 per unit, according to a release.

Marcus & Millichap said in the release that its Institutional Property Advisors (IPA) division closed the sale .

“The physical improvements made to Onnix, its excellent location and tremendous scale place the property in an enviable position within the competitive landscape of Tempe,”  Cliff David, senior managing director of IPA, said in the release.

 “New ownership has the opportunity to resume implementing the apartment interior renovation program in an effort to generate additional monthly rent premiums.”

Fri
09
Jun
The Editors's picture

Current Economic Data Supports Multifamily Investments

The macro data suggests that multifamily investments and properties continue to be a strong performing asset class, says the CEO of a specialty investment bank focused on real estate, according to a release.

Multifamily is still supported by strong economic fundamentals, generally outperforming most other property sectors, David Blatt, CEO of Capstack Partners says in the release. Lenders have recently begun to express caution about financing new multifamily investments because of concerns that there is too much inventory. Many banks share the belief that the added supply will cause vacancies to increase and rents to drop, especially those lending into primary and high growth markets, which have been seeing the most investment activity over this last market cycle.

Tue
06
Jun
The Editors's picture

Seattle Company Buys Echo Lake Apartments in Shoreline

Seattle company buys Echo Lake Apartments in Shoreline, Washington

A Seattle company has bought the Echo Lake Apartments, a 289-unit apartment complex in Shoreline, Washington, according to a release.

Security Properties and Intercontinental Real Estate Corporation ("Intercontinental") announced the purchase of the property, which also has almost 9,000 square feet of retail built in 2009.

This brings Security Properties holding to 18 assets in the Puget Sound region.  The asset was purchased in the fourth joint venture between Security Properties and Intercontinental.

"Echo Lake Apartments falls right in line with our strategy of buying in the best micro-location in a submarket,” Davis Vaughn, Director at Security Properties, said in the release.

Mon
29
May
The Editors's picture

Seattle Company Buys Arizona Apartments For $85 Million

Arizona apartments purchased for $85 million by Seattle company

A Seattle company has bought a 576-unit complex of Arizona apartments in the Ahwatukee area of Phoenix, Arizona for $85,250,000, according to a release.

The multifamily property purchase of the Andante Apartments was done by Security Properties and Pacific Life Insurance, making this the fifth asset in the Phoenix marketplace for Security Properties.

The Andante Apartments are located in the Phoenix suburb of Ahwatukee, on the south side of South Mountain Park. Ahwatukee is characterized by its affluent demographic, low crime rate, strong school district and close proximity to employment corridors.

Tue
16
May
The Editors's picture

Soft Landing Or Bumps Ahead For Multifamily Investment?

Multifamily investment looking ahead to the next 12 to 24 months by Yardi Matrix

The economic forecast for multifamily investment for the next year or two is that it is good enough to maintain occupancy, but rents may not be what people are hoping for, according to a new report from Yardi Matrix.

Jeff Adler, vice president and general manager of Yardi Matrix, said in a webinar that, “We are coming in for a soft landing – driven by supply. While demand is good, we are in for a busy 12 to 24 months,” he said.

“Things are getting absorbed, but not at rents people were hoping for,” Adler said as multifamily supply will peak in 2017.

“In my view the macro economic conditions are good, not great, but they are pretty good,” Adler said. “And they are generating good job growth with 150,000 to 200,000 jobs per month. This is good enough to maintain occupancy - and decent - but continued deceleration of rent growth is happening.

Thu
11
May
The Editors's picture

Seattle Affordable Housing Complex Wins HUD Award

Seattle affordable housing plaza wins HUD award

Seattle’s Plaza Roberto Maestas, a mixed use affordable housing project, has won the 2017 U.S. Department of Housing and Urban Development (HUD) and the American Institute of Architects (AIA) Creating Community Connection Award award, according to a release.

The award recognizes projects that incorporate housing within other community amenities for the purpose of either revitalization or planned growth.

Plaza Roberto Maestas is a landmark equitable transit-oriented development project in Seattle's Beacon Hill neighborhood, according to the release.

The project incorporates the community's vision into a new mixed-use development in a rapidly gentrifying neighborhood.

Tue
02
May
The Editors's picture

Deceleration In Multifamily Pricing Contributes To Slower Growth In Commercial Index

Multifamily in the West commerical price index from CoStar

Multifamily was the slowest growing property type index in the first quarter of 2017, according to the CoStar Commerical Repeat Sales Indices.

The report says amid slower rent growth and heightened construction levels at the top end of the multifamily market, pricing in the Multifamily Index advanced 1.9% in the first quarter of 2017, a moderate deceleration from its quarterly average pace of 2.9% over 2015 and 2016, according to a release.

The U.S. Multifamily Index increased by 1.9% in the first quarter of 2017, the slowest rate among the major property types, although recent annual gains of 9.1% in the 12-month period ending in March 2017 are still healthy.

Thu
13
Apr
The Editors's picture

Apartment Returns Shifting To Secondary Markets

apartment returns shifting to secondary markets

Two researchers report that secondary markets are becoming more attractive for apartment returns now, and for the next few years, according to John Burns Real Estate Consulting.

Adam Artunian, a senior manager, and Alex Wilson, research analyst, report that secondary apartment markets and “what we call surban locations - desirable suburban locations with urban amenities- have shifted to become outperformers.”

Secondary markets, determined by historical permit activity, have had less construction than primary markets and remain more affordable.

Tue
11
Apr
The Editors's picture

Immigrants' Strong Desire for Homeownership Will Shape U.S. Housing Markets

immigrants impact on housing in the future

A new report says the housing and neighborhood location choices of immigrants will have a significant impact on urban growth in the U.S. for decades to come, particularly as more foreign-born residents seek to own homes in suburban communities, according to new research from the Urban Land Institute's Terwilliger Center for Housing.

Immigrants seeking to own homes as well as those renting homes are increasingly drawn to the suburbs for employment and lower costs, the report says. Homebuilders and developers who can deliver the housing options immigrants want and need stand to benefit in the years to come.

Mon
20
Mar
The Editors's picture

To Yield Or Not To Yield?

Prepayment penalty and choices in an era of rising interest rates

Sponsored Blog

Prepayment Penalty Choices In The Era of Rising Interest Rates

By Eli Glanz, President, Alpha American Capital

Most commercial mortgages, particularly fixed-rate mortgages, have some sort of prepayment penalty. Lenders impose such a penalty to earn back some, or all, of the interest income they would have earned had the mortgage remained outstanding for its entire term.

Prepayment penalties generally come in one of three flavors: defeasance, yield maintenance or a percentage fee. For those of us who focus on financing multifamily properties, the last two options are what we will encounter most often as those are the options offered by the agencies (Freddie Mac and Fannie Mae).

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