In Case You Missed It: Week of September 4
Lease renewals hit an all-time high; how crowdfunding has transformed real estate investing; renters demand storage; and more in this edition of the ALEX Chatter’s weekly multifamily roundup.
Trepp – September 07, 2016
“Earlier this month, the CMBS market welcomed its first conduit offering with a risk retention structure formulated to comply with Dodd-Frank regulations. Sponsored jointly by Wells Fargo, Bank of America, and Morgan Stanley, the $870.6 million WFCM 2016- BNK1 is the first to feature a vertical interest strip, becoming the industry’s preliminary example of a potential deal structure that can be adopted to meet regulatory standards.”
USA Today – September 6, 2016
“The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.”
Huffington Post – September 6, 2016
“Since investment crowdfunding was born as part of President Obama’s 2012 Jumpstart Our Business Startups Act (JOBS Act), it has revolutionized capital-raising and is forecast to account for more funding in 2016 than venture capital.”
Multifamily Executive – September 06, 2016
“With boomers and millennials renting at unprecedented rates, apartment executives seeking to attract these two groups need to know the features they desire in a community. Chief among them is something seemingly every consumer wants more of today: storage.”
National Association of Home Builders – September 06, 2016
“Recently released data from the US Census Bureau’s Survey of Market Absorption (SOMA) shows that 54,300 privately financed, non-subsidized rental apartments in buildings with 5 or more units were completed in the first quarter of 2016.”
TechCrunch – September 4, 2016
“With the advent of new technologies, the market has begun to shift nearly every aspect of the rental process, from leasing applications to communications with landlords and agents to payment processing.