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April 1, 2015

Data Overload!

Apartment firms rely on robust broadband to attract residents and run their operations.  There has been an abundance of telecommunications-related policy activity in recent months, although it’s not always clear what the practical takeaways are for apartment firms.

NMHC’s Betsy Feigin Befus cuts through the legal complexities and politics to what matters for the multifamily firms.  New rules on net neutrality and municipal broadband and a revised regulatory definition of broadband itself all have the potential to affect our access to high-speed Internet. 

A recent FCC ruling also offers a warning to apartment communities with Wi-Fi networks against interfering with personal Wi-Fi networks or “hotspots.”  

Broadband isn’t the only connection that matters. More than two out of five households rely solely on wireless phones, highlighting the mobile proliferation in our lives, but also emphasizing the need to ensure connectivity, especially during emergencies.

Find out what it all means to your firm here.

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DIVERSITY

The 10 Most Influential Women in Multifamily

For the past three decades, women have been climbing the ranks to take top positions at some of the largest companies in the multifamily industry. Multifamily Executive Magazine honors 10 of the most influential women in the apartment business.

TURNOVER

Less Geographic Mobility May Mean Rise in Long-Term Apartment Residents

Americans are picking up and moving less than they used to, with some of the biggest declines seen among younger households and renter households.  This could portend reduced turnover and a noticeable rise in the number of long-term residents.

TRENDS

Americans Head South

A close look at new Census data shows that the fastest growing cities and towns in the U.S. are once again in warm places with ample affordable housing.  Last year, for example, places where the average January high temperature was over 60 degrees added population at more than six times the rate of places where the average January high was below 35 degrees.

URBAN PLANNING

Suburbs Rethink Transit to Court Millennials

Suburbs have long used good schools, low crime rates and spacious corporate campuses near major highways to recruit employers.  As Americans increasingly seek to give up their cars for walkable, urban settings—suburbs are having to rethink transit to retain and recruit firms. 

CONSTRUCTION

Apartment Building Created with 3-D Printer

WinSun Decoration Design has created a five-story apartment building with a giant, 150-meter, 3D printer. The firm “prints” whole buildings using a patented ink made of recycled construction waste. Buyers for WinSun’s printed buildings include a Taiwanese real estate group, which has reportedly ordered ten mansions, and the Egyptian government, which has ordered 20,000 single-story houses.

FORECASTS

Modest Housing Expansion in 2015: Fannie Mae

“We expect an improving 2015 with continued economic growth bringing housing above 2014 levels,” said Fannie Mae Chief Economist Doug Duncan. Upbeat labor market conditions and positive consumer and business fundamentals should push economic growth to 2.8 percent this year. Downside risks include slowing global growth abroad, geopolitical events and increased financial volatility domestically due to speculation around the target fed funds rate.

FINANCE

Challenge of Maturing Loans Turns to Opportunity

Lenders are increasingly eager to face the massive amount of commercial real estate loans that will expire in 2015, 2016 and 2017, including $287.3 billion in CMBS loans alone. “There is a ton of money out there that wants to come in and provide financing for solid real estate deals,” said Tom Fish, executive managing director and co-head of real estate investment banking in JLL's capital markets group to National Real Estate Investor.

NEW CONSTRUCTION

Strong Start to New Construction in 2015: Dodge Data

New construction projects are roaring ahead at a seasonally adjusted annual rate of $724.3 billion in February, up 16 percent from the month before. "Due to the presence of several unusually large projects, the first two months of 2015 witnessed an especially elevated level of activity that's exceeded the underlying trend for construction starts," said Robert A. Murray, chief economist for Dodge Data & Analytics in a press release.  "Some pullback can be expected in coming months.”

In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Lennar Builds More Rentals as Slow Sales Pace Persists

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Foreign Investors Pile into EB-5 Programs

Kushner Brothers Combine Real Estate and Technology

Kayne Anderson Deal Shows Student Housing Winning Favor

Apartment Investment Returns to Moderate in 2015: PREA Consensus

Chinese Investors Choose Apartment Development

Metros Where Renters Spend the Most Income on Rent: L.A., Miami, San Francisco…

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A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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THIS MONTH

2015 NMHC Research Forum

April 1-2, 2015
Georgetown University Conference Center in Washington, DC

2015 NMHC Spring Board of Directors Meeting

April 21 - 23, 2015
Waldorf Astoria New York  in New York, NY

2015 NMHC Emerging Leaders Speaker Series - NYC

April 21, 2015
JP Morgan Headquarters in New York, NY

 
Multifamily Market Dashboard

Cap Rates Low, Volume High in February

Prices for apartment properties rose again in February relative to the income produced at the properties, driving capitalization rates lower again, according to data from Real Capital Analytics.

“Overall, apartment cap rates average just over 6 percent, and the top quartile is under 4.6 percent ,” RCA said in its February report. Cap rates represent the income from a property as a percentage of the sales price.

Investors bought and sold $9.7 billion in apartment properties in February, up 65 percent from the year before. Sales of large portfolios provided the fuel, including Clarion’s $3 billion deal to buy Gables Residential pushed the total higher.


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