Items Tagged with 'multifamily properties'

ARTICLES

  • NRP Group rolling out multifamily property management services

    In-house services now available to third parties
    The NRP Group, a developer, builder, and manager of multifamily housing, is set to begin offering its property management services to third parties. NRP Group announced this week that it is rolling out NRP Management, which will allow other multifamily developers and property managers to use NRP Group’s property management services.
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  • WhyHotel raises $10 million to expand service that turns empty apartments into hotels

    Works with developers to use new units as hotel rooms during lease-up
    WhyHotel, a company that works with developers to turn newly built unleased luxury apartments into hotels, is set to expand thanks to a new capital raise. The company announced this week that it raised $10 million in its Series A funding round. The news comes just a few months after the company raised just shy of $4 million in its seed funding round.
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  • TCI, Southern Properties Capital, Macquarie partnering to build significant multifamily portfolio

    Joint venture already has 10,000 units, with plans for much more
    Southern Properties Capital, a subsidiary of real estate investment company Transcontinental Realty Investors that operates primarily in Texas and specializes in Class A multifamily, is forming a joint venture with a subsidiary of Macquarie Group, the global finance giant. According to the companies, the joint venture will focus on creating a “business platform that will allow dramatic expansion in the multifamily arena.”
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  • CBRE: Here’s where multifamily investors should be putting their money in 2019

    Why workforce housing will outperform the rest of the market
    While most of the market attention tends to be focused on Class A multifamily buildings, new research from CBRE suggests that there is another class of multifamily housing that represents a much larger opportunity for investors – workforce housing. And going into 2019, market conditions are positioning workforce housing for continued return on investment.
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  • Europe’s Round Hill Capital partnering with Cortland to invest in U.S. multifamily housing

    First acquisition made in suburban Atlanta
    In what’s becoming far more commonplace these days, another international investor is planning to buy into the U.S. multifamily market. Round Hill Capital, a Europe-based real estate investment, development and asset management firm, is partnering with Cortland to invest in the U.S. multifamily market.
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  • MAA must pay $8.7 million to fix Post apartments that are not accessible to persons with disabilities

    DOJ sued Post Properties in 2010 over 50 apartment complexes
    The Department of Justice announced last week that it reached an $11.3 million settlement with MAA, which owns more than 101,000 apartment units in 17 states, over properties MAA acquired when it merged with Post Properties in 2016. According to the DOJ, Post allegedly built 50 apartment complexes across the country that were not properly accessible to persons with disabilities.
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  • Massachusetts man cops to 9-year multifamily mortgage fraud conspiracy

    Used fake loan documentation to obtain loans that cost $4.3 million in losses
    A Massachusetts man admitted in court last week that he took part in a nearly decade-long multifamily mortgage fraud conspiracy that defrauded financial institutions of millions of dollars. Court documents showed that Joseph Bates and other conspirators took part in a mortgage fraud scheme that stretched from 2006 through 2015, involved at least two dozen fraudulent loan transactions, and caused $4.3 million in losses to lenders.
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  • Bainbridge Companies hires five new executives to position for growth

    Bainbridge says it expects significant growth in East Coast operations over next 3 to 5 years
    Luxury multifamily firm Bainbridge Companies, recently hired five members to its executive team in support of its growth initiatives in the Mid-Atlantic region. As the single-family industry struggles to prop up sagging originations and fight low inventory, resulting in a tough season full of layoffs, the multifamily industry appears to be running strong. The ability of firms to hire for growth is a good indicator that things are going swimmingly in the multifamily industry.
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