Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Adaptive Reuse Apartment Conversions Increased in 2023
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Adaptive reuse continues to increase in the rental housing industry. Former offices, hotels, schools, malls, hospitals and other nonresidential buildings are being converted into apartments at a record pace, according to RentCafe. There were more than 12,700 new apartments in 2023, which is up 17.6…
10 Things to Know About The JBREC/NAA Apartment Developer and Investor Survey Q1 2024
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The percentage of survey respondents who expect apartment starts to accelerate during the next 12 months jumped from 12% in Q4 2023 to 23% in Q1 2024. While debt and equity financing for development are still extremely difficult to secure, a handful of survey respondents (4%-5%) signaled that…
KKR Acquires 10,000 Student Beds
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More than 10,000 beds are exchanging hands following the acquisition of 19 purpose-built student housing properties. KKR is taking over the portfolio that encompasses 14 universities in 10 states from Blackstone Real Estate Income Trust (BREIT).
BREIT had originally acquired the properties with a…
Rents Grow for Third Straight Month
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Rent growth is in positive territory for the third consecutive month. The April 2024 Apartment List National Rent Report shows median rent increased by 0.5% in April. Despite this, rent growth is down 0.8% year-over-year (YoY).
This increase is not uncommon, as it follows what is typically seen…
Multifamily Starts Decrease in March
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Multifamily housing starts are looking to rebound after a downward trend in March. Starts of five or more units slipped nearly 21% from February and almost 44% from March 2023, according to the U.S. Census Bureau.
Meanwhile, completions increased 4.6% from February, despite the nearly 20% drop year…
Digital Accessibility a Must in Rental Housing
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The “April is Fair Housing Month” content series continued April 24 by focusing on digital and website accessibility. Christine Walz, Partner with Holland & Night, presented “Clicking Through: Website and Digital Accessibility Requirements.” During the session, Walz discussed legal requirements…
Hines Enters BTR Sector
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Real estate investment manager Hines, through Hines U.S. Property Partners, has acquired its first build-to-rent (BTR) community. Blu South in Pineville, N.C., will have 551 three- and four-bedroom BTR townhomes, single-family detached homes and duplexes when completed. Just over 60% of the homes…
MEB Management Services, Weller Management Merge
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MEB Management Services and Weller Management are now Bryten Real Estate Partners. The merger and reorganization to integrate the two companies creates a multifamily manager with nearly 47,000 units and 1,150 employees across the U.S.
"Both MEB and Weller have built their reputations in multifamily…
Greystar Tops 2024 NMHC 50
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Greystar continues to lead the way as the largest apartment manager in the U.S. The National Multifamily Housing Council (NMHC) released its NMHC 50 earlier this month to highlight the largest apartment owners, managers, builders, developers and syndicators.
The Charleston, S.C.-based real estate…
NAA Kicks Off Fair Housing Month
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On April 3, NAA presented the first “April is Fair Housing Month” session for 2024. Jay Harris, Partner with Hudson Cook shared his expertise with attendees during the session “Part II: 10 Applicant Screening Solutions for Property Managers,” which was a follow-up to his session in February on…