Discussion
I've spent the last year pricing new construction on land I control and nothing pencils. Hard costs on a garden-style shape came back roughly 39 percent above where I'd have model…
Discussion
Working through a 148 unit 1996 vintage deal in a Sun Belt submarket that's about 30 percent through its supply overhang. Price 21.6 million, 145,000 a door, in-place NOI 1.19 mil…
Win
188 units, 2006 vintage, secondary Sun Belt market with a hospital and a university anchoring it. Basis $24.6M, $131k a unit against a replacement cost the appraiser put at $203k.…
Discussion
I've been sitting on the sidelines and the language in every offering memorandum I read is basically the same now: supply wave is over, vacancy has peaked, absorption catches up,…
From the desk:
I've held this parcel for eleven years. It's zoned for multifamily by right, sewer is at the property line, and I've had three inquiries in the last decade and none of them seriou…