Category Archives: Industry News

New Financing Facility Bolsters Waypoint’s Push into Single-Family Rentals

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Oct 9, 2012 11:23 AM, Staff Reports

Waypoint Real Estate Group, which has acquired 2,000 single-family homes since early 2009, has received a $245 million revolving credit facility that will support the continued expansion of a growing portfolio of single family rental homes.

Waypoint is part of a broader trend of large investors attempting to buy up houses in bulk in hopes of institutionalizing the single-family rental market.

The new facility was lined up by members of SNR Denton’s capital markets practice along with Citi.

The facility is for Waypoint’s partnership with Menlo Park, Calif.-based GI Partners. The two entities signed a deal…[Full Article]

Multifamily Occupancy Rates Stabilize, Rent Growth Slows

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Aug 31, 2012 10:32 AM, By Bendix Anderson, Contributing Writer

Apartment rents are still growing across the country, but not as quickly as they were in the summer of 2011, when growth in effective rents peaked.

“Things have slowed since a year ago,” says Jay Denton, vice president of research for data firm Axiometrics Inc., based in Salt Lake City. “The growth rate has slowed for rents… The growth for occupancies is starting to flatten out.”

Axiometrics predicts that average apartment rents will settle into a steady pace of growth over the next few years, similar to rental markets in the mid-1990s, as occupancy rates stay very high.

The percentage of occupied apartments appears to be settling in at close to 95 percent. The national occupancy rate actually dropped very slightly… [Full Article]

Fits and Starts for Commercial Real Estate Volume

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By Bendix Anderson, Contributing Writer

The commercial real estate recovery, like the rest of the economy, had a late spring slowdown. “We had a strong first quarter and a softer second quarter as investors became concerned about sovereign debt issues,” says Janice Stanton, senior managing director of Capital Markets for commercial real estate broker Cushman & Wakefield.

Commercial real estate brokers and researchers see a similar stall in momentum. The strongest activity is still confined to [Full Article]

Observers Say Concerns Over Multifamily Overbuilding are Overblown

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Jul 10, 2012 2:17 PM, By Jennifer Popovec, Contributing Writer

After several years of little new apartment construction, development activity has ramped up. But industry experts aren’t worried about overbuilding. The number of units under construction is still below historic norms. Plus, most properties coming online today are leasing quickly—with some rental rates well above expectations.

“We’re coming off two exceptionally low years of new deliveries, and we’re still well below the long-term average,” says Michael Ging, Alliance Residential Company’s (ARC) Florida managing director of development. “I don’t see where we’re going to have an oversupply condition.” ARC’s newest property, [Full Article]