Multi-Housing News

🌟 In Case You Missed It: A Top Story of the Week GID Real Estate Investments has purchased Millennium PQ, a 331-unit trophy suburban core community in San Diego. The Dinerstein Companies sold the asset for $167 million in a transaction brokered by Walker & Dunlop: https://lnkd.in/ePQkd4yw

🌟 In Case You Missed It: The Top Story of the Week Shortly after its partnership with RD Management LLC in Tampa, Fla., Core Spaces is further expanding its student housing portfolio with four new projects. The developer will add nearly 4,000 beds in Madison, Wis., and 800 beds in Knoxville, Tenn: https://lnkd.in/epqK3943

Eight West, an affiliate of The Hakimian Organization, has secured a $175 million construction loan for SOLA, a 364-unit luxury development in New York City’s Queens borough. Apollo and Lionheart Strategic Management provided the financing in a deal arranged by Newmark: https://lnkd.in/dvvFNwTk

Some multifamily communities are taking wellness quite literally by offering residents access to health-care services: https://lnkd.in/ezQGyUzD

A partnership between The Hudson Companies, Inc. and Housing Works has broken ground on The Lirio, a 145,000-square-foot development featuring 112 permanently affordable units in Manhattan, N.Y. The project also includes roughly 30,000 square feet of office space and 7,300 square feet of retail space: https://lnkd.in/eGe5Ugkm

Advertised street rates were down annually for all top 30 metros, the latest Yardi Matrix report shows: https://lnkd.in/edQrK69S

SmartStop Self Storage REIT Inc. has acquired a Class A self storage facility in Spartanburg, S.C. encompassing roughly 109,500 net rentable square feet across 950 climate-controlled units. RealtyLink, LLC sold the asset for $13.2 million, according to Spartanburg County records. https://lnkd.in/eKXV5SGw

The White House’s proposal would cap rent hikes at five percent at multifamily properties with more than 50 units for at least the next two years: https://lnkd.in/eUE2yDWf

Paces Preservation Partners—a development partnership between The Paces Foundation and Soho Housing Partners—has opened The Legacy at Carr Heights Senior Apartments, a 120-unit affordable senior housing community in Charlotte, N.C.: https://lnkd.in/es3ep4eZ