RHJ Investor

RHJ Investor is the department of Rental Housing Journal that speaks specifically to the interests and needs of real estate investors and apartment owners. Whether you're part or a REIT (real estate investment trust) , independently own large apartment communities, are a small landlord with 1 or 2 rental homes or choose to fix and flip, RHJ Investor is a great source for information. This site features how-tos and best practices for buying and selling property, real estate taxes, choosing property management and maintenance vendors, 1031 excahnges & TICs, apartment financing, budgeting and much more.

RHJInvestor.com is sponsored by National REIA

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Tue
25
Jul
The Editors's picture

Apartments In Upscale Arizona Neighborhood Sell For $71 Million

Phoenix, Tucson Apartments Sold

The Arcadia Cove Apartments in Phoenix, acquired for about $40 million in 2013, have sold for $71.5 million, according to a release.

The 432-unit complex was sold to BH Equities of Des Moines, Iowa, according to Bascom Arizona Ventures who completed the sale for $165,509 per unit. Arcadia Cove, built in 1996, is located at 2252 N. 44th St.

Thu
20
Jul
The Editors's picture

Real Estate Trust Buys Portland Apartments For $75 Million

Portland apartments purchased for $75 million

Jory Trail at the Grove, a complex of Class A apartments in the Portland, Oregon suburb of Wilsonville has been purchased for $75 million, according to a release.

The purchase was made by JLL Income Property Trust, an institutionally managed, daily valued perpetual life REIT, according to the release.

Wilsonville is a thriving suburb of Portland that features a robust apartment market, low market vacancy and no multifamily units under construction or planned in the submarket. Jory Trail has 324 units and is 95% leased, according to the release.

 The suburb is located along the I-5, providing access to some of greater Portland's major employment centers and is home to Xerox, Mentor Graphics, Rockwell Collins and Tyco.

Tue
18
Jul
The Editors's picture

Majority Of Rental Property Investors Are Small Entrepreneurs

most rental property investors and owners are small entrepreneurs

Most rental property investors and owners are small landlords who own five or fewer single-family rental housing units, according to a new study.

The study showed that landlords and real estate investors lease 44 million rental households that house about 60 million people across the U.S., according to a release from Real Property Management. The study found this means there are about 10 million real estate investors representing 98 percent of all rental property owners and about 80 percent of all rental properties.

“The single-family residential investment market has long been misunderstood and dismissed as only an option for those wealthy enough to use real estate investing as a business,” Bob Pifke, CMO of Property Management Business Solutions, LLC, the franchisor of Real Property Management, said in the release.

Tue
11
Jul
The Editors's picture

Colorado Developer To Build Luxury Apartments Atop Arizona Whole Foods Market

Colorado developer to build luxury apartments atop whole foods in Arizona

A new mixed-use project in Arizona will feature 286 luxury apartments on top of a Whole Foods Market 365 store near Arizona State University, according to a release.

The Forum Real Estate Group, based in Glendale, Colorado, is the developer of The Local  a luxury, multifamily development in the heart of downtown Tempe.

“Situated at the marquee intersection of University and Ash, adjacent to the Mill Shopping District, The Local is a celebration of authentic Tempe – the history, the culture, the music, the people,” according to a release.

Thu
06
Jul
The Editors's picture

South Seattle Apartments Sell For $109 Million

South Seattle apartments sold for $109 Million

A south Seattle 576-unit multifamily property, apartments that were acquired for $58 million in 2014, has sold for $109 million, according to a release.

Rock Creek Landing, a wholly-owned 576-unit multifamily property in Kent, Washington, was sold by Kennedy Wilson, a global real estate investment company. The cash proceeds of $73 million from this transaction were used to fund the previously announced acquisition of 90 East, an office campus in greater Bellevue.

 “This sale demonstrates our ability to leverage our vertically integrated investment platform to identify undermanaged investments where we can create value through the execution of our asset management program,” Shem Streeter, Managing Director of Kennedy Wilson Multifamily Investments, said in the release.

Fri
30
Jun
The Editors's picture

$217 Million In 5 Multifamily Sales Closed In Arizona In Two Weeks

Multifamily sales of $217 million in Phoenix metro

Two senior level investment advisors have closed five multifamily property transactions totaling $217 million and 1,699 units between May 30 and June 15 of this year in the Phoenix metropolitan area.

Steve Gebing and Cliff David, two senior managing directors of Marcus & Millichap’s Institutional Properties Advisors( IPA)division, closed the transactions

The properties sold in this period are:

Wed
28
Jun
The Editors's picture

Real Estate Investor Acquires 266-Unit Apartment Community In Denver Suburb

Real estate investor acquires apartment community in Denver suburb

U.S. real estate investor and operator Waterton has acquired Greenwood Plaza, a 266-unit rental apartment community located in the Denver suburb of Centennial, Colorado, approximately 15 miles southeast of downtown Denver.

“Greenwood Plaza is in a prime location near major employers, public transit and within walking distance to several strong retail centers including Greenwood Retail Plaza, Heritage Place Shopping Center and Arapahoe Marketplace,” Mark Stern, senior vice president of acquisitions at Chicago-based Waterton, said in a release.

“The Centennial community offers a great deal to its residents, including the expansive Cherry Creek State Park, golf courses, a state-of-the-art recreation center and the K-12 Cherry Creek School District, one of the highest-achieving districts in Colorado,” Stern said.

Mon
19
Jun
The Editors's picture

Salt Lake City Company Buys Arizona Apartments For $77 Million

Salt Lake City company buys Arizona apartments in Tempe for $77 million

A Salt Lake City-based real estate investment and property management firm has purchased Arizona apartments called the Onnix, a 659-unit apartment property in Tempe, Arizona for $77 million, or $116,920 per unit, according to a release.

Marcus & Millichap said in the release that its Institutional Property Advisors (IPA) division closed the sale .

“The physical improvements made to Onnix, its excellent location and tremendous scale place the property in an enviable position within the competitive landscape of Tempe,”  Cliff David, senior managing director of IPA, said in the release.

 “New ownership has the opportunity to resume implementing the apartment interior renovation program in an effort to generate additional monthly rent premiums.”

Fri
09
Jun
The Editors's picture

Current Economic Data Supports Multifamily Investments

The macro data suggests that multifamily investments and properties continue to be a strong performing asset class, says the CEO of a specialty investment bank focused on real estate, according to a release.

Multifamily is still supported by strong economic fundamentals, generally outperforming most other property sectors, David Blatt, CEO of Capstack Partners says in the release. Lenders have recently begun to express caution about financing new multifamily investments because of concerns that there is too much inventory. Many banks share the belief that the added supply will cause vacancies to increase and rents to drop, especially those lending into primary and high growth markets, which have been seeing the most investment activity over this last market cycle.

Tue
06
Jun
The Editors's picture

Seattle Company Buys Echo Lake Apartments in Shoreline

Seattle company buys Echo Lake Apartments in Shoreline, Washington

A Seattle company has bought the Echo Lake Apartments, a 289-unit apartment complex in Shoreline, Washington, according to a release.

Security Properties and Intercontinental Real Estate Corporation ("Intercontinental") announced the purchase of the property, which also has almost 9,000 square feet of retail built in 2009.

This brings Security Properties holding to 18 assets in the Puget Sound region.  The asset was purchased in the fourth joint venture between Security Properties and Intercontinental.

"Echo Lake Apartments falls right in line with our strategy of buying in the best micro-location in a submarket,” Davis Vaughn, Director at Security Properties, said in the release.

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