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FCP Enters Phoenix Market with Multifamily Acquisition

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FCP has acquired Tides at South Tempe for $71.5 million through a joint venture with Tides Equities, a real estate investment company focused on multifamily investments. The 442-unit apartment community is FCP’s first investment in Arizona. Tides at South Tempe is located close to Superstition Freeway and Interstate 10, proximate to major job centers, downtown Tempe, downtown Phoenix and the Phoenix Sky Harbor International Airport. The community features studio, one-

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Data Discloses Flood Risk of Every Home in Contiguous U.S.

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The nonprofit research and technology group First Street Foundation has publicly released flood risk data for more than 142 million homes and properties across the U.S. The data is based on decades of peer-reviewed research. It assigns every property in the contiguous U.S. a Flood Factor score from 1 to 10, based on its cumulative risk of flooding over a 30-year mortgage. The model was developed by more than 80

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Kilroy Realty Named NAIOP 2020 Developer of the Year

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Kilroy Realty Corporation has been named NAIOP’s 2020 Developer of the Year. NAIOP is the Commercial Real Estate Development Association. Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. It is NAIOP’s highest honor. The award will be presented during NAIOP’s CRE. Converge October conference in Las Vegas. Kilroy Realty Corporation is a publicly traded real estate investment

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Next-Generation Technology Solution for Real Estate Inspections

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Using a new technology solution from ServiceLink, borrowers can complete home inspections from the comfort and safety of their homes. The new mobile app, EXOS Inspect, uses a patent-pending technology featuring the latest artificial intelligence and an intuitive user interface that allows homeowners to complete secure video inspections for critical aspects of the lending and servicing process. The app is designed to guide homeowners through a step-by-step process, using any

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Hodges Ward Elliott Arranges Sale of Luxury Hospitality Asset

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Hodges Ward Elliott, a boutique real estate capital markets advisor, represented Sunstone Hotel Investors in the $80 million sale of the 622-room Renaissance Harborplace hotel.  The Renaissance Harborplace, centrally located in the heart of Baltimore, features an on-site restaurant, a fitness center and a bar and lounge in addition to other amenities, including a café and valet parking. The property also offers 21 meeting rooms with more than 27,000 square

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COVID-19: A Game Changer for Multifamily

The COVID-19 pandemic ended years of healthy multifamily fundamentals. Will the industry’s pain be short-lived or the start of a new trend that is less favorable for the sector? After nearly a decade of solid growth, multifamily asking rents dropped 0.4% nationally in April and May, with twice as many metros seeing rents decline (71) as increase (35), according to a study of 107 U.S. metros by Yardi Matrix. Metros

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