June 29, 2016

Wednesday Wrap: June 29

Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:

The Brexit Impact On Multifamily Investment, by KC Sanjay, Forbes 

Key Excerpt:

The Brexit could decrease the value of British real estate, at least in the short term, as the United Kingdom attempts to first negotiate its way out of the EU, then seeks new trade deals on its own. That could send British speculators looking for someplace safe to spend their investment pounds and shillings, and the United States has one of the most attractive apartment markets in the world, according to Axiometrics’ economists.”

New Household Formation to Help Fill New Apartment Supply, by Bendix Anderson, NREI Online

Key Excerpt:

“Developers are building a high number of new apartments, and the percentage of vacant units has recently begun to rise as these new apartments open in cities across the country. But demand from new renters will help fill these units as many young people who delayed forming their own households for years finally sign leases for their own apartments.”

Atlanta No. 14 in annual rent growth for new residents, by Phil Hudson, Atlanta Business Chronicle 

Key Excerpt:

“Nationally, demand for rental apartments surged during the second quarter of 2016, gaining momentum after a sluggish performance in the first three months of the year. The occupied apartment count across the nation’s 100 largest metros increased by 127,402 units in the second quarter, according to MPF Research, the rental market intelligence division of RealPage.”

Mixed-Product Development: A Winning Combination, by Carl Malcolm, Multifamily Executive 

Key Excerpt:

“The idea of single-family for rent works for this demographic because they can afford it. But for developers, providing detached housing for renters has historically been difficult because of the disconnect between the cost to construct and the value the owner can get out of the rent that can be reasonably charged. JHP Architecture/Urban Design, in collaboration with Larry W. Garnett Design & Planning, recently came up with a way to satisfy both parties, multifamily developers and renters who prefer detached housing or townhomes, with a mixed development in a northern suburb of Austin, Texas.”

Landlords ensure electric-car owners are plugged in, ICSC

Key Excerpt:

“More shopping center owners now offer electric-vehicle charging stations so that drivers can shop while they top off those car batteries. Tanger Factory Outlet Centers included free EV charging as part of several alternative-energy promotions it launched last July.”

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