Industry Insider
A weekly newsletter of noteworthy articles pertaining to our industry.
Joint Venture Preserves 10,000 Affordable Apartment Homes
May, 2023 | Updated May, 2023
More than 10,000 affordable apartments are being preserved thanks to a $1.2 billion acquisition. The Community Development Trust (CDT) along with The Michaels Organization and Goldman Sachs Urban Investment Group acquired 90 affordable housing communities. CDT now has more than 22,000 units under…
Starwood Capital Group Joins Airbnb-Friendly Apartments
May, 2023 | Updated May, 2023
Airbnb and Starwood Capital Group are partnering to provide residents the ability to use the short-term rental platform. Airbnb has 250 buildings it is partnering with, according to Bloomberg. Airbnb-friendly apartments are in 38 cities.According to Bloomberg, Starwood joins other partners such as…
Rent Growth Climbs for Third Straight Month
May, 2023 | Updated May, 2023
A rent growth trend is forming again. The May 2023 Apartment List National Rent Report shows the rent index increased by 0.5% during April, which is the third straight month of rent growth.Year-over-year (YoY) rent growth at 1.7% is at the lowest mark since March 2021, and this is well below the…
5 Key Consumer Preferences of Renters
April, 2023 | Updated May, 2023
RCLCO Real Estate Consulting has released the results of the “2023 Renter Consumer Preference Survey Report,” providing in-depth national insight into the consumer preferences of single-family and multifamily renters.The report offers data derived from survey conducted in late 2022 that uncovers…
Post Road Management Acquires 11 Communities
April, 2023 | Updated April, 2023
Post Road Management is deepening its footprint in Wichita, Kan. The real estate investment and management company announced it acquired 11 multifamily communities in the greater Wichita metro earlier this month. The new acquisitions range from Class C+ workforce housing to Class A new…
Greystar Opens Modular Apartment Manufacturing Facility
April, 2023 | Updated April, 2023
Greystar Real Estate Partners, LLC is celebrating the opening of its flagship manufacturing facility to focus on modular construction. A ribbon-cutting ceremony took place earlier this month in western Pennsylvania, home to Modern Living Solutions (MLS).The MLS subsidiary plans to deliver modular…
Minneapolis City Staff Report Says No to Rent Control
April, 2023 | Updated April, 2023
On April 14, Minneapolis city staff published an impact analysis, “Rent Stabilization Staff Analysis,” to provide in-depth background and research after voters approved an amendment to allow rent caps in November 2021. The report recommends against implementing a rent stabilization policy,…
Millennial Homeownership Jumps During Past 5 Years
April, 2023 | Updated April, 2023
Millennials are now a homeowner-majority generation. New research from RentCafe shows 51.5% of Millennials own a home, flipping from a renter-majority to an owner-majority.There were 18.2 million Millennial homeowners in 2022, up 7.1 million owners during the past five years. There are still 17.2…
NMHC Announces Largest Apartment Managers, Owners
April, 2023 | Updated April, 2023
The 2023 National Multifamily Housing Council (NMHC) Authoritative Rankings are out with little change surrounding the top 10 largest apartment managers.Greystar Real Estate Partners remained the No. 1 manager based on units managed: nearly 727,000 compared to just shy of 700,000 in 2022. Lincoln…
Single-Family Zoning Ends in Northern Virginia Metro
April, 2023 | Updated April, 2023
Arlington County, Va., will now allow the development of multiunit residential buildings by-right after a unanimous vote by local lawmakers in March. “As housing stock locally and nationally has failed to keep up with demand, Arlington becomes the first locality in the D.C. region — and much…