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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The Editors's picture

The Story Of A Multifamily Investment Winner

The story of a multifamily investment winner by Vinney Chopra

This story of a multifamily investment winner began with discussions about buying an apartment complex that had suffered extensive fire damage in one of the 16-unit buildings in a 156-unit apartment complex in Freeport, Texas in 2014.

By Vinney Chopra

The fire, at the Sienna Villas Apartment Homes, was caused by two kids playing with match sticks in the closet in the upstairs of a middle apartment. It quickly got out of hand. Fortunately no one died and everyone got out quickly. The complex was originally built in 1978 and had no sprinkler system.

The owners of the complex, who lived in the San Francisco Bay Area, decided after collecting the insurance money that they would like to consider selling the complex to us, and they dropped the price. They explained there had been poor management of the complex and they would like to not own this asset as it required extensive rehab.

The Editors's picture

Inland Group Purchases Another Colorado Multifamily Property

Inland group purchases another Colorado multifamily property

Inland Real Estate Acquisitions, Inc. has negotiated and helped close the purchase of Black Feather Apartment Homes, an 83-unit Colorado multifamily property located in Castle Rock, a southern suburb of Denver.

Located directly off I-25 in a major retail corridor of Castle Rock, the property was constructed in 2016 and features a mix of townhome, three-story walk-up apartments and owned condominium units.

The transaction consisted of 48 two-bedroom, 32 three-bedroom and three four-bedroom apartments with 49 detached and 28 attached garages and 131 open parking spaces.

Each unit at Black Feather Apartment Homes features nine-foot ceilings, stainless steel appliances, granite countertops and a full-size washer and dryer. The property also provides residents with access to a community swimming pool, clubhouse and barbecue areas

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Multifamily Zero Energy Communities In New Arizona Real Estate Fund

New Arizona fund features multifamily zero energy communities

A Scottsdale, Arizona firm has opened a new $100 million commercial real estate fund that includes multifamily zero energy ready communities plus access to grow wealth with ownership in apartments, hotels, office, self-storage and similar properties for accredited investors, according to a release.

The fund will invest in “middle market” U.S. commercial real estate assets that can deliver attractive risk-adjusted return through a combination of current income and capital appreciation, following a similar strategy of the company’s previous commercial fund, which was closed one year early, over-subscribed.

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Multifamily Joint Venture Acquires $90 Million San Diego Community

Multifamily joint venture acquires san diego apartments

A Los Angeles-based multifamily joint venture firm has bought 519-unit Eagles Point apartments in Escondido for $90 million with plans to upgrade the property, according to a release.

Allstate Insurance, in a multifamily joint venture with TruAmerica Multifamily, made the acquisition, according to a release.

Escondido is one of the fastest growing cities in North San Diego County. Over the past five years, its population has grown by 6.3% percent and is projected to grow by an additional 5.4% by 2021, according to FastReport.

With fewer than 14,000 rental units and only two projects totaling 275 units in the construction pipeline, the city’s multifamily inventory is not close to keeping pace with its tremendous growth, according to Greg Campbell, TruAmerica’s Senior Managing Director of Acquisitions and Dispositions.

The Editors's picture

Multifamily Market Will Hit Records In 2017 As Investors Return

Multifamily market will hit records in 2017 led by the West Coast metros

West Coast markets will dominate the top 10 on gross income growth in 2017 for themultifamily market, led by Seattle, Sacramento, Tacoma, Portland and Colorado Springs, according to the Freddie Mac Multifamily Research Group’s mid-year outlook.

Outlook authors Steve Guggenmos and Sara Hoffmann find that the multifamily market will continue to grow for the rest of 2017 and into 2018.

The Editors's picture

Apartments In Upscale Arizona Neighborhood Sell For $71 Million

Phoenix, Tucson Apartments Sold

The Arcadia Cove Apartments in Phoenix, acquired for about $40 million in 2013, have sold for $71.5 million, according to a release.

The 432-unit complex was sold to BH Equities of Des Moines, Iowa, according to Bascom Arizona Ventures who completed the sale for $165,509 per unit. Arcadia Cove, built in 1996, is located at 2252 N. 44th St.

The Editors's picture

Real Estate Trust Buys Portland Apartments For $75 Million

Portland apartments purchased for $75 million

Jory Trail at the Grove, a complex of Class A apartments in the Portland, Oregon suburb of Wilsonville has been purchased for $75 million, according to a release.

The purchase was made by JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT, according to the release.

Wilsonville is a thriving suburb of Portland that features a robust apartment market, low market vacancy and no multifamily units under construction or planned in the submarket. Jory Trail has 324 units and is 95% leased, according to the release.

 The suburb is located along the I-5, providing access to some of greater Portland's major employment centers and is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco.

The Editors's picture

Majority Of Rental Property Investors Are Small Entrepreneurs

most rental property investors and owners are small entrepreneurs

Most rental property investors and owners are small landlords who own five or fewer single-family rental housing units, according to a new study.

The study showed that landlords and real estate investors lease 44 million rental households that house about 60 million people across the U.S., according to a release from Real Property Management. The study found this means there are about 10 million real estate investors representing 98 percent of all rental property owners and about 80 percent of all rental properties.

“The single-family residential investment market has long been misunderstood and dismissed as only an option for those wealthy enough to use real estate investing as a business,” Bob Pifke, CMO of Property Management Business Solutions, LLC, the franchisor of Real Property Management, said in the release.

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Colorado Developer To Build Luxury Apartments Atop Arizona Whole Foods Market

Colorado developer to build luxury apartments atop whole foods in Arizona

A new mixed-use project in Arizona will feature 286 luxury apartments on top of a Whole Foods Market 365 store near Arizona State University, according to a release.

The Forum Real Estate Group, based in Glendale, Colorado, is the developer of The Local  a luxury, multifamily development in the heart of downtown Tempe.

“Situated at the marquee intersection of University and Ash, adjacent to the Mill Shopping District, The Local is a celebration of authentic Tempe – the history, the culture, the music, the people,” according to a release.

The Editors's picture

South Seattle Apartments Sell For $109 Million

South Seattle apartments sold for $109 Million

A south Seattle 576-unit multifamily property, apartments that were acquired for $58 million in 2014, has sold for $109 million, according to a release.

Rock Creek Landing, a wholly-owned 576-unit multifamily property in Kent, Washington, was sold by Kennedy Wilson, a global real estate investment company. The cash proceeds of $73 million from this transaction were used to fund the previously announced acquisition of 90 East, an office campus in greater Bellevue.

 “This sale demonstrates our ability to leverage our vertically integrated investment platform to identify undermanaged investments where we can create value through the execution of our asset management program,” Shem Streeter, Managing Director of Kennedy Wilson Multifamily Investments, said in the release.


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