Multifamily

A look at the past and current climate of the private lending space in California

San Benito Apartments' rents were 40% below market, and this off-market transaction was made possible due to an offer that included an initial non-refundable earnest money deposit and expedited feasibility period.

The outlook for Dallas' commercial real estate market continues to be overwhelmingly positive as the city emerges as one of the South's premier tech hubs.

Renters in the region absorbed approximately 9,155 units so far this year, which was roughly three times the number of units absorbed during the first half of 2017 and which far outpaced the 6,336 apartment deliveries year-to-date.

“The Pointe at Preston Ridge fits our current strategy of investing in existing multifamily communities that can benefit from A|P's property management expertise and value add/renovation program,” says Mark Briggs, chief operating officer at Atlantic | Pacific Real Estate Group.

Some properties are being sold within two years, and this quick timing was evident with 12 apartment communities that recently sold in North Texas totaling 3,200 units valued at $275 million.

BTI also reports it has obtained a $12-million loan secured by the 100-acre property from Florida Community Bank. A spokesman for BTI tells Globest.com that while the 100-acre parcel is on the market for sale, BTI still could possibly be involved in the development of the property.

Multifamily developers have focused a lot on the CBD, but the suburbs have seen strong rent growth.