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Multifamily Focus

The Zupancic Group Multifamily FOCUS

Multifamily Focus

Overview

Our weekly newsletter is designed to inform and educate investors and industry professionals about the latest multifamily news affecting DC, Maryland and Virginia real estate. For more information on new trends and changes, and how The Zupancic Group can help you navigate the ever-changing market, please call us at (202) 536-3788.

March 21, 2025

Rents have been declining for nearly two years in the top 50 metros, but low multifamily permitting may send rents higher in the future, according to the February rent report from Realtor.  The Census Bureau’s report on new residential construction stated that multifamily permits fell, multifamily starts rose and multifamily completions plunged.  DC’s multifamily sector remains strong despite federal job cuts.

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March 14, 2025

CMBS delinquencies for apartments dropped during the month as the overall picture for CRE improved.  A new report from Redfin found that less than half of newly built apartments completed in the third quarter of 2024 were rented within three months.  A Maryland Senate proposal would require counties to choose between rent stabilization and good cause eviction laws, sparking opposition from tenant advocates.

 

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March 7, 2025

The multifamily investment outlook remains bullish, but the floodgates will not burst open with deal flow this year according to the National Multifamily Housing Council’s annual conference.  After six months of declines, the March 2025 Apartment List national rent index returned to positive month-over-month rent growth, increasing by 0.3% in February in line with seasonal trends.  The median rent in D.C. rose 2.7% year over year in February, following three months of declines.

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February 28, 2025

20% ($957 billion) of $4.8 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2025, a 3% increase from the $929 billion that matured in 2024, according to the Mortgage Bankers Association. Virginia legislators pass a bill to give renters a longer grace period to pay their rent before facing penalties.

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February 21, 2025

Multifamily construction is expected to continue to slow in the first six months of the year, with a possible pickup in the second half, according to a survey of its members by the National Association of Home Builders.  Renter advocates are hopeful that this will be the year “good cause” evictions finally become law in Maryland.

 

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February 14, 2025

The average rent in a U.S. multifamily property rose in January for the first time in six months, according to Yardi.  Multifamily distress jumps to 12.9%, marking a significant year-over-year increase. Mayor Muriel Bowser has introduced a package of legislation intended to stabilize D.C.’s housing system, which is on the precipice of widespread distress.

 

 

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February 7, 2025

The Census Bureau’s quarterly report on home ownership and occupancy for Q4 2024 stated that the rental housing vacancy rate was 6.9 percent.   In 2024, the multifamily market more than doubled its net absorption from last year.  Legislation aiming to expand affordable housing in Virginia progresses through the General Assembly.

 

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January 31, 2025

Multifamily delinquencies jumped 75% year-over-year to around $2.8B, Trepp reported.  The latest rent report from Apartment List shows that the national median monthly rent growth in January was -0.21 percent.  The state of Maryland is considering whether to join the cities of San Francisco and Philadelphia in banning house, condo or apartment owners from using rent-setting software.

 

 

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January 24, 2025

Rental affordability has improved across the country as the earnings needed to afford an average US apartment fell to the lowest level since March 2022 while salaries trended up.  Overall, 1.4 million housing units broke ground in 2024, a 3.9% decline from the year before.  Bills targeting housing supply goals and multifamily zoning fail in Virginia.

 

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January 17, 2025

U.S. housing starts increased by nearly 16% month-over-month in December to an annual rate of 1.5 million homes, according to the Census Bureau.  Apartment occupancy appeared to be improving in many markets from their local low point to close 2024.  D.C. launches ‘Office to Anything’ conversion tax incentive and commits millions to fill in the gap – up to $5 million for fiscal year 2027, $6 million in 2028 and $8 million in 2029, with a 4% annual escalation thereafter.

 

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January 10, 2025

Despite rising vacancy rates, steady rental demand through 2024 helped apartment owners keep rents near record highs, with more price growth forecast this year.  Both strong investment and rent growth signal strength for the D.C. multifamily market.

 

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January 3, 2025

Multifamily completions rose 13.6% year over year, markedly lower than the 61% YOY increase in October, while permits jumped.  Annual job growth rate doubles in Richmond, VA.

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December 27, 2024

The national average advertised asking rent decreased by $4 to $1,742 in December, for a 0.6 percent year-over-year increase, according to Yardi Matrix.  Apartments at all price levels nationwide are experiencing downward pressure on rents as nearly 1 million new units have been delivered since the beginning of 2023, surpassing the largest volumes seen in more than 50 years.  D.C. surpasses 700,000 residents for the first time since the pandemic.

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December 20, 2024

Apartment sales increased 40% year over year to $10.5 billion in November, according to a report from data firm MSCI Real Assets.  The D.C. Council is considering legislation aimed at improving safety at multifamily properties by placing a new set of requirements on owners.

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December 13, 2024

According to a new Yardi Matrix report, expenses and income growth in the affordable housing sector grow in tandem at above-level rates in the sector this year, with insurance premiums leading the expense pack.  After a significant drop in multifamily sales volume last year in the Washington, D.C. region, sales are back on the upswing thanks to a spike in deals in the District.

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December 6, 2024

In a recent RealPage analysis it was noted that as the apartment market nationwide is anticipating a supply peak, market-by-market supply trends vary, and about half of the nation’s largest metros are at least six months to a year away from hitting peak supply. The D.C. Council has approved an emergency bill to acquire Capital One Arena.

 

 

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November 29, 2024

The percentage of new apartment units that were absorbed within three months of completion rose from 50% to 55% in the second quarter of 2024. The county of Arlington, VA has adopted rules to make it easier and more cost effective to transform underutilized office buildings to other uses, an issue developers are looking at across the United States.

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November 22, 2024

Multifamily maturities are bringing surprising risk and negative leverage is coming for many borrowers. A five-year multifamily construction boom has poured 1.8 million units onto the US market.  Maryland comes in 6th place for highest median rent in the U.S.

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November 15, 2024

Multifamily cap rates are returning to pre-pandemic levels, reigniting investor interest as property values stabilize and transaction activity picks up.  A second Trump presidency has the potential to dramatically reshape DC’s real estate as we know it.

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November 8, 2024

Multifamily construction starts are down 50%, and absorption hits the second-highest level on record. Multifamily demand continues to outpace the record apartment supply for the time being. The DC Council is considering offering tax breaks on vacant and blighted properties.

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November 1, 2024

The current wave of apartment development has begun to slow after peaking in 2022.  According to a new CoStar report, multifamily property prices rose in September.  DC area apartment rents fall in october, but are up year-over-year.

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October 25, 2024

The multifamily market sees the strongest demand since 2021, lowering the national vacancy rate. Private capital firms look to invest billions in affordable apartments as federal aid fades. 10 DC apartment properties hit the market after owner’s bankruptcy.

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October 11, 2024

Expiring LIHTC units could add to the affordable housing crisis. Apartment supply and demand gap narrows to a 3-year low. Rents continue to decline in most major cities. According to a new report, apartment costs in Tysons are the highest in the whole DC Metro area.

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October 4, 2024

Luxury apartments appeal to households squeezed out of homeownership.  New energy code requirements could impact multifamily developments and rents.  The DC Council passes an emergency bill to address unpaid rent crisis. Maryland to begin sealing eviction records from the public.

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September 27, 2024

According to Goldman Sachs, housing won’t be affordable for another five years. Multifamily completions reach a 50-year high, dropping asking rents to a 2-year low.  DC Council aims to tighten housing policies as unpaid rent climbs in the District.

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September 20, 2024

Research points to the downside of rent control. Freddie Mac Multifamily Apartment Investment Market Index Inches Up Nationwide in Second Quarter of 2024. Capitol Heights Metro Station Targeted For Up To 600,000 Square Feet Of New Development.

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September 13, 2024

After stagnating for two years, multifamily rent growth is finally expanding. Construction materials prices reported higher in August. Lawmakers scramble to reform the eviction law that upended DC’s housing industry. Baltimore, MD ranks 2nd among best U.S. cities for real estate investments.

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August 30, 2024

There are new Fannie Mae tenant protections coming in 2025 for multifamily rentals. More than 1.2 billion SF of office space have strong potential for residential conversion. The multifamily market in Virginia’s capitol Richmond maintains rent growth and high occupancy.

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August 23, 2024

Q2 multifamily mortgage originations continue to trail last year’s level, however commercial/multifamily borrowing increased 3% in Q2.  Two new zoning designations in DC that could start paving the way for more development along a notable commercial corridor in Chevy Chase are moving through the formal review process.

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August 16, 2024

Multifamily lending declined 49% to $246 billion in 2023 although record apartment deliveries and absorption expected in 2024.  Rent concessions are on the rise amid elevated supply. A trio of investors have purchased an apartment building in DC’s NoMa neighborhood for $108M.

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August 9, 2024

Apartment rent growth ticks up slightly in July as Multifamily demand stayed strong. The U.S. elections could impact multifamily real estate in a big way. Median apartment rent continues to be stratospheric in Arlington, VA.

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August 2, 2024

Multifamily asking rents increase for the sixth consecutive month, remaining slow but positive. DC Mayor Bowser claims victory on her goal of adding 36,000 new housing units to the city. A new report shows that most Alexandria, VA residents are renters and many have unaffordable housing costs.

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July 26, 2024

Apartment vacancy rates hold steady as multifamily demand nearly matches supply. Montgomery County’s rent stabilization law is now in effect, capping rent hikes. A large, 370-unit development in Crystal City finally looks to move forward.

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July 19, 2024

Multifamily absorption posts the strongest quarter since 2000 and year-to-date absorption has nearly surpassed the total demand from last year. The DC Zoning Commission advanced a map amendment for a development on Central U Street. The DC region’s multifamily rent growth surpasses other large markets led by Northern Virginia.

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July 12, 2024

Apartment demand surges to an almost three-year high, but rent growth remains sluggish. Multifamily construction permits are down 30%. An apartment building opens in Downtown DC converted from Peace Corps HQ. Loudoun County board approves ‘100%’ Affordable Housing area in Sterling, Virginia.

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July 5, 2024

Just 47% of newly constructed apartments completed in the fourth quarter of 2023 were rented within three months, according to a new report from Redfin – the second slowest pace on record. Recently built DC apartment building goes into bankruptcy and sells for $7M.

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June 28, 2024

According to a report from Redfin, less than half of renters can afford a median-priced apartment as typical US renters must earn $64,000 per year to afford an apartment. A restaurant in the Chinatown neighborhood of DC sells at auction for $7M after bidding drives up price.  Montgomery County looks at loosening single-family zoning rules to help increase housing in the county.

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June 21, 2024

According to the Matrix Multifamily National Report, the multifamily sector continues to be strong in 2024, even when a handful of challenges are present. In Prince George’s County, the Rent Stabilization Bill passes the first vote in Council. An older apartment building across from amazon HQ2 sells for $114M.

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June 14, 2024

According to a new Yardi Matrix outlook, minimal rent growth is expected for the U.S. multifamily market in 2024.  It’s expected that 2024 will have the most muti-family housing completions in history.  Loudoun County approves its first all-affordable multifamily development via a fast-track pilot program.

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June 7, 2024

Apartment occupancy held steady in May, marking the seventh straight month in which occupancy remained at or above 94.1 percent.  Single-family and multifamily production are headed in opposite directions across geographies. Prince George’s lawmakers are weighing permanent caps on multifamily rent hikes.

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May 31, 2024

Apartment rents post national monthly growth of over 1% in May. The latest rent report from Apartment List shows that the national median monthly rent growth in May was +0.5%, however, year-over-year rent growth was -0.8%.  A never-before-sold multifamily property with famous former residents sells in Dupont Circle.

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May 24, 2024

The national rental-housing market has continued to cool, with differing outcomes based on geography and unit type. Fannie Mae’s May economic forecast calls for multifamily housing starts to decline through the end of 2024 before slowly recovering in 2025 despite persistently high interest rates.  An apartment building in Union Market sells at auction for $38.8M.

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May 17, 2024

Yardi Matrix’s recent National Multifamily Report and Apartment List’s National Rent Report pointed to slow rent growth. Yardi Matrix reported a year-over-year rent growth rate of 0.7%, while Apartment List reported that the national rent growth rate was still in negative territory, at -0.8%. A Bethesda apartment complex sold for $129.8M, a 37% discount from the 2016 sale price.

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May 10, 2024

Yardi Matrix reported that national average apartment rent was up $6 in April compared to the revised level of the month before at $1,725 per month. D.C. unveils ‘8 Big Ideas’ for the 30 blocks around Capital One Arena, including a “Gallery Walk” and several office-to-residential conversions increasing the number of available residential units in the area.

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May 3, 2024

According to RealPage Market Analytics, the national average for apartment occupancy ticked up month-over-month to stand at 94.2% in April 2024.  In the fourth quarter of 2023, commercial and multifamily debt outstanding increased. A hotel and condos are pitched for a high-profile Tysons Corner site.

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April 26, 2024

After jumping in February, multifamily starts dropped to the lowest level since the first month of the global pandemic.  Total commercial real estate mortgage borrowing and lending is estimated to have totaled $429 billion in 2023, a 47% decrease from the $816 billion in 2022, and a 52% decrease from the record $891 billion in 2021. A new apartment building opens in Chevy Chase, MD near the Purple Line.

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April 19, 2024

US housing starts lost momentum in March, falling 14.7% to a seasonally adjusted annual rate of 1.32 million units, according to the latest government data.  A DC Apartment Building in Union Market is to be auctioned off only one year after opening.  The Baltimore County Council passes a bill allowing for mixed-use development areas.

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April 12, 2024

The national median asking rent rose for the third consecutive month in March to 0.8%. Confidence surged in the CMBS market during the first quarter, with more than $17B of loans issued, nearly triple the value of CMBS loans priced in Q1 2023, according to Trepp. The DC-area sees rents rise overall in March.

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April 5, 2024

National credit bureau TransUnion says that six out of 10 multifamily property managers experienced fraud in the past two years.  Banks will be squeezed over the next three years to cut their exposure to commercial real estate as an estimated $2T in CRE debt matures. SCG Development is ready to begin construction on the first phase of a new affordable apartment community near the McLean Metro station.

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March 22, 2024

Multifamily loan losses spike as debt from 2021 peak comes due.  Yardi Matrix reported the average multifamily asking rent rose $1 in February to $1,713, the first increase in seven months. Year-over-year growth remained flat at 0.6%. In a rare move, developers in Washington, D.C. are proceeding with an entirely affordable housing development.

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March 15, 2024

Loans on more than 58,000 properties totaling $525B will mature by the end of 2029, a new report from Yardi Matrix found. According to the latest Yardi Matrix National Multifamily Report, the average U.S. asking rent increased $1 to $1,713 in February, a 0.6% year-over-year increase.  Building code reform moves forward in Virginia.

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March 8, 2024

Monthly rent change added up collectively is unchanged over the previous 11 months.  Trepp reported that delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans declined slightly in February, falling 10 basis points. The Purple Line is delayed now until 2027 and requires another $425M infusion.

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March 1, 2024

Rent growth has returned to the apartment sector for the first time in six months, according to the March 2024 Apartment List National Rent Report.  U.S. commercial property prices in January bumped up against the same hurdles of the prior year: high borrowing costs and a depressed number of property sales that dragged on valuations.  Arlington moves up to No. 7 priciest rental market in U.S. according to rental website Zumper.

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February 23, 2024

CRE valuations dropped 42% on average in 2023. As a result of the delivery of 540k new apartments during 2024, Yardi Matrix is predicting weak rental price growth in some markets. A small D.C. real estate investor closed on three properties last week as the decade-old firm continues its growth, stating “It’s a great time to buy”.

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February 16, 2024

A sharp decline in multifamily starts pushed overall housing starts down in January even as single-family production showed signs of a gradual improvement later this year as interest rates continue to moderate.  College Park City Council considers tax credits for affordable housing, blighted properties.

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February 9, 2024

The U.S. Treasury proposes new regulations for residential real estate transactions. A new report from Yardi Matrix examines the changes in the number of multifamily starts and the sorts of developments started over the last 10 years.  D.C. aims to keep pace with 150,000 additional residents in its new comprehensive plan.

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October 20, 2023

Commercial and multifamily lending is expected to fall 46% to $442 billion in 2023. U.S. housing starts rose in September on multifamily projects. D.C.’s Emergency Rental Assistance Program reopened October 1, but closed again on October 10 due to high demand. A Howard County executive proposes rent control and other housing affordability steps.

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October 13, 2023

National rent costs drive September Consumer Price Index increase. Multifamily rent growth declined in September due to the decelerating economy. According to Apartments.com Q3 2023 rent growth trends report, apartments’ record demand still can’t overcome supply. In Silver spring, MD the DHCA has provided funding for the construction of an affordable rental building along the Purple Line Corridor.

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October 6, 2023

Apartment construction during the third quarter reached its highest level since the 1980s, not only putting a lid on rent increases but also helping push down rents in some hot markets.  70% of households are finding it harder to pay the rent. The Supreme Court declines to hear NY rent control case. A long-planned revival of Worthington Woods in Washington, D.C.’s Ward 8 is set to begin.

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September 29, 2023

The nationwide median rent fell 0.5% to $1,364, according to Apartment List’s National Rent report, meaning apartments are 1.2% less expensive now than they were a year ago.  Despite national mounting challenges and increasing interest rates, multifamily remains a safe bet. Permits for single and small multifamily units surge in September. In Northern Virginia, Fairfax County Supervisors approve a plan to reduce parking requirements, providing more space for housing, parks, and other public amenities.

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September 22, 2023

Commercial and multifamily mortgage debt outstanding increased by #37.7 billion in the second quarter of 2023. A new report from Yardi Matrix documents the rapid rise in operating expenses for multifamily properties over the past year and blames rising insurance costs. In Washington, D.C. young residents with high earnings of $100k or more left the District by the thousands in recent years, taking $3 billion in income with them. Attorneys for a group of Arlington, Virginia homeowners opposed to the Missing Middle zoning ordinance and county attorneys made their arguments in Arlington County Circuit Court.

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January 27, 2023

Wage growth is trailing rent growth, the national average rent-to-income reached 30%, making the US rent burdened for the first time. The White House announced plans to address multifamily affordability and housing quality with the Blueprint For Renters Bill Of Rights. Four affordable housing properties in Washington, DC will get solar power as part of a $12.4 million investment from the partnership of Enterprise Community Partners and DC Green Bank.

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January 20, 2023

What does the Fed’s Beige Book show for 2023? Apartment construction took a nose dive in the Q4 of 2022 and 2022’s apartment sales volume dropped 17%. Montgomery County Maryland has approved its largest affordable housing project to date with 195 units. Arlington, Virginia’s apartment development pipeline is taking over shopping centers and offices.

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January 13, 2023

Office to apartment conversions are increasing, here’s what you need to know. Multifamily investment bright spots in 2023 include workforce housing, large-scale federal programs will increase the demand for housing, and more people are being priced out of class A buildings. In Washington, DC six major developments are being delivered this year: learn about Mayor Muriel Bowser’s economic development plans.

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January 6, 2023

Apartment rent growth is positioned to slow down amid the median rent increase of 3.8% in 2022. Maryland’s property values are rising, and Prince George’s County Department of Housing and Community Development and Amazon partner in funding an affordable housing development at the West Hyattsville Metro station. Apartment complex development continues in Arlington, VA, with a planned 500-unit building in Ballston.

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December 30, 2022

Review the top markets for buying and selling apartment buildings according to 2022 transactions. Delinquency rates in Q3 fell from the first half of the year, dropping by 4 basis points and hovering near the level observed pre-COVID in Q1 2020. Virginia Gov. Glenn Youngkin announced more than $24.7 million in grants for construction and development projects, 15 of which will go towards the state’s southernmost third. Baltimore may see an increase in federal funding for its city development projects in 2023 under a federal omnibus bill passed by the House on December 25th.

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December 22, 2022

Looking ahead at CRE in 2023, the Fed’s may cut rates midyear, the Fed’s create a new index to track rent inflation, and CRE foreclosures will spike in the second quarter. In Washington, DC, a developer plans an apartment building in the H-Street Corridor, and the former Mazza Gallerie Mall in Friendship Heights will be converted into a mixed-use building with 25,000 square feet of retail along Wisconsin Avenue.

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December 16, 2022

Converting abandoned office space in metropolitan areas has been a growing residential development trend to meet rental demands. These developments are adopting a mixed-use, “live, work, play” model more than ever. The Federal Reserve closed 2022 with a 7th interest rate hike, a 50 basis point jump, “placing the federal funds rate between 4.25 percent to 4.5 percent — its highest level since December 2007.”

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November 25, 2022

Navy Yard’s development continues to boom with new plans for a massive residential building next to Nationals Park. Baltimore’s Port Covington’s mixed-use “mega project” gets a new name, and the city has plans to develop 244 acres of former public housing projects.

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November 18, 2022

Rent growth is slowing down, and housing affordability in 2022 reports a decline. A nonprofit launches an accreditation and certification for CRE companies based on its social impact. See the world’s tallest residential tower being built in Dubai, adorned with diamond spires. Around the DMV, Maryland wins a $1.5 billion federal grant for development along the Purple Line, and new affordable housing is proposed near the Silver Line.

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November 11, 2022

Marriot International launches its new national brand, Apartments by Marriot Bonvoy, catering to remote workers. The Parks at Walter Reed will see an additional 280-unit project, bringing more residential units to the major community development plans of the original Walter Reed Medical Center campus in Washington, DC. More massive development projects for thousands of apartment units are underway across DC including Nationals Park and Audi Field as part of the redevelopment plans in that area.

 

 

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November 4, 2022

Multifamily cap rates are below 4% of 2021 NOI and rental vacancy rates rise in Q3. A 320-unit development plan for Friendship Heights in NW DC was revealed that includes 15,000 square feet of retail on the ground floor. A new tenant is coming to the Audi Field and Buzzard Point development site, Brooklyn Bowl, bringing in entertainment and retail.

 

 

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October 28, 2022

GDO growth expands to 2.6% by the end of the third quarter. Office conversion to residential real estate continues to develop in DC, including plans for a historic building near McPherson Square.

 

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October 21, 2022

Cap rates jump 72 basis points in six months. The Federal Reserve releases its October Beige Book about current economic conditions, including CRE construction and sales slowing amid rising costs and rates. Around the DMV, a developer pitches a DC-area housing for people with low vision and Foulger-Pratt library proposes an all-affordable residential project and library on public land in Reston, VA.

 

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October 14, 2022

DC Metro is one of the top ten cities for new construction and the region is seeing an increase in multifamily developments in northwest, DC, and Maryland suburbs. Governor Youngkin announced new development projects in southwest Virginia and new Virginia programs have been approved that will allow residents to use solar polar.

 

 

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October 7, 2022

Total flood and wind loss from Hurricane Ian are reportedly up to $70 billion. Baltimore’s Little Italy is seeing expansion with multifamily apartments replacing the newly closed Stratford University. Fannie Mae launches a program to help renters boost their credit scores.

 

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September 30, 2022

The price of lumber fell and the trend for more mass timber buildings has been on the rise – CRE is in the wake of decarbonization as companies are pledging to reach net zero carbon emissions. How does Biden’s inflation act affect commercial real estate?

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September 23, 2022

Multifamily construction is set to slow and mass timber buildings are on the rise because of the material’s low carbon footprint. Howard University is expanding with an apartment building and Georgetown, Washington, DC will see more graduate housing.

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September 16, 2022

Multifamily rental rates are slowing down but have remained consistent since August. Inflation is up 8.3%, but one real estate exec analyzes why multifamily investment is still a good idea. Amazon commits an additional $163 million for 11 affordable housing projects in the DC region.

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September 9, 2022

In construction, companies are recruiting from alternate candidate pools as labor shortages continue and the industry is coming up with solutions against ongoing supply chain issues. Boston Properties JV changes plans from developing office space in downtown DC in Mount Vernon Triangle to multifamily development. And, Multifamily development plans in DC expand near H Street with a 148-unit affordable housing project.

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September 2, 2022

DC is named as one of the country’s top live-work-play apartments. Nearly 1,500 units are in the Friendship Heights pipeline and new townhome development is set on the former Walter Reed campus in DC. Capitol One closes a $29.4 million loan with Freddie Mac to refinance an affordable housing community in Virginia.

 

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August 26, 2022

Construction costs have been reported to rise 14.1% this year and inflation is forecasted to be permanently high. The National Institute of Standards and Technology’s investigation of the Champlain Towers condo collapse in Surfside, FL continues. In Baltimore, what was once known as “Murder Mall” is approved for 120 new townhomes in West Baltimore and a 73-unit apartment building is proposed on York Road.

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August 19, 2022

Over half the tenants in the US saw rising rents in the past 12 months, and interest rates are increasing putting refinancing apartments at risk. In Washington, DC, Barry Farms development begins, and developers are looking towards more retail around Nationals Park as the rental demand increases in the area.

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August 12, 2022

Multifamily continues to be anchored as the strongest sector for commercial real estate investments and July proved rent demand is steadily growing. Developers in Washington, DC seek new plans to build apartments in the growing Navy Yard instead of office space. And, developers looking to construct MCI office headquarters as apartments is an example of adaptive reuse as a trending development opportunity as multifamily housing demand rises.

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August 5, 2022

Learn about Yardi’s new CRM software designed for developers and review the proposal for a submission opportunity for The University of Baltimore’s campus expansion plans. The return-to-office migrations affect the housing market, but single-room occupancy could be the answer to housing affordability in cities.

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July 29, 2022

Multifamily redevelopment may tackle unused office buildings, the redevelopment plan of the former US Department of Agriculture Building in DC is the latest example. Local governments are releasing their own Building Energy Performance Standard programs to work toward more sustainable development and carbon neutrality. National real estate resource sites are criticized for not implementing disaster area data.

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July 22, 2022

Learn about the historical patterns of inflation’s effects on commercial real estate and get updated on the trends of multifamily lending and apartment sales predicted for the rest of 2022. in Washington, DC, Dantes Partners and Goldman Sachs partner on a $139M affordable housing deal and residential development plans that have been approved are a likeness to an iconic NYC building.

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July 15, 2022

Find out how rising interest rates are forcing multifamily investors to adjust. New data shows D.C. rents are rising fast. Two blocks of Wisconsin Avenue are planned for redevelopment that includes affordable housing. In Arlington, the ‘missing middle’ debate continues on.

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July 8, 2022

See which apartment markets are at the greatest risk of oversupply. Look to the 1970s to see how rents adjust in a high-inflation market. Find out the 7 DC neighborhoods that saw the greatest price increases this year.

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July 1, 2022

Take a look at the most competitive rental markets in the country. With the purchase of a major affordable housing complex, a new Los Angeles real estate firm has entered the DC region. What Boeing and Raytheon moving its HQs to Arlington means for Northern Virginia.

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June 24, 2022

Is now the time to buy, sell or hold commercial real estate? Rent control becomes prohibited in one more state. D.C. funds only 20 new vouchers despite 40,000 people on the Housing Authority waitlist. Northern Virginia is failing to meet affordable housing needs, but the addition of major corporations should help change that.

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June 17, 2022

How the highest interest rate increase in decades has impacted your multifamily property. Under Mayor Bowser, D.C. development has soared, but so have housing costs. Will Northern Virginia hit a saturation point for data centers

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June 10, 2022

Inflation and interest rates are tightening mortgage lending standards resulting in the lowest supply levels in over a year. City planners look to increase density restrictions in rapidly growing Southeast, DC. Raytheon announces its global headquarters is moving from Boston to Virginia

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June 3, 2022

As interest rates have risen in recent weeks, a major warning sign has emerged in the multifamily sector: negative leverage is now widespread. See how D.C.’s TOPA ruling has ground lease implications for multifamily properties. Montgomery County praises the county’s historic investment in affordable housing funding.

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May 27, 2022

Rising interest rates and inflation are causing serious concern for both owners and renters across the country. As the D.C. elections begin to heat up, see what each Mayoral Candidate has to say about the affordable housing issue. Take a look at the site in Northern Virginia that could become the new home of the Washington Commanders.

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May 20, 2022

Find out how the Biden Administration’s Housing Action Plan impacts your multifamily building. With inflation coming, is now the time to sell your investment property? Boeing announces Arlington as the new location for its Global Headquarters.

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May 13, 2022

Multifamily investment hit a record high in Q1 as buyers keep buying despite interest rates climbing higher. National multifamily asking rents take another big jump. Take a look at the first renderings of one of the largest new residential
developments in Friendship Heights

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May 6, 2022

Apartment investors continue to hesitate due to the rising interest rates and inflation. Lease renewals reached a record high. The increased cost of materials, rising interest rates, and increasing cost of capital continue to affect the developer’s timeline to meet the housing demands, driving rental costs and renters to stay in their current units.

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April 29, 2022

Rent prices continue to rise as apartment demand increases, and vacancies continue to drop despite the rise. Developers struggle to meet the steady demand for multifamily housing due to the increased cost of materials, rising interest rates, increasing cost of capital, etc. and investors are facing unfavorable conditions to finance equity. Marcus & Millichap reports economic headwinds in a recent webinar.

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April 22, 2022

Inflation is rising, and so are rent prices. Multifamily lending is stalled due to increased rates, but multifamily development is rising as apartment demand bounces back since the plight of COVID-19.

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April 15, 2022

Multifamily investment looks to be well positioned for a big summer as income-generating real estate remains a fantastic hedge against inflation. However, hot multifamily markets may be headed for a short-term cooldown as interest rates continue to rise and markets adapt dynamically.

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April 8, 2022

National asking rents increased by 2.1% in Q1 2022, which is record growth for a first quarter; however, headwinds like inflation, interest rates, and household formations raise questions for investors. Metro announced its first-ever Strategic Plan for Joint Development, a proposal to increase private development and collaboration with real estate developers on Metro-owned land throughout the DC region.

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April 1, 2022

Affordable Housing Developments push on at both the local and national levels as rent growth in 2022 outpaces 2021. Washington, DC seeks to provide additional funding for affordable senior housing as construction costs remain high. Investors continue to pursue various multifamily conversions in the DMV.

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March 25, 2022

Multifamily lending is on track to hit a record $1 trillion in 2022, as inflation continues to drive interest rates upward. The lack of housing inventory in the DMV is pushing pricing, meanwhile, local jurisdictions work towards increasing housing production. In Virginia, both local and national investors are flocking towards Amazon’s HQ2.

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March 18, 2022

New commercial real estate data shows a surprisingly good pandemic recovery. D.C.’s robust tenant laws allowing local land trust to grow quickly. In Northern Virginia, Amazon-supported initiatives near $800M mark with new Arlington developments.

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March 11, 2022

Inflation and rising interest rates: what is the impact on multifamily investments? D.C., Maryland, and Virginia are implementing the homeowner assistance fund. Meanwhile, Section 8 Housing Reform moves forward.

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March 4, 2022

Single-family growth cools while multifamily is still on fire. See why investors remain bullish on the Mid-Atlantic market. In Virginia, Amazon provides $51M for an affordable housing project.

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February 25, 2022

See how apartment developers are counteracting supply chain and labor cost issues. Insights into how D.C.’s new affordable housing tax break will work and as more Marylanders receive eviction notices, activists push for change.

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February 18, 2022

FCC adopts new rule impacting multifamily broadband, while U.S. commercial real estate investment rebounds with record $746B in 2021. In DC, a new application paints a better picture of 498-unit development Near The Wharf.

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February 11, 2022

Freddie Mac sets LIHTC equity record with $675 million in affordable multifamily housing investments, while D.C. housing advocates want more rental assistance. Find out what will 2022 look like for senior housing.

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February 4, 2022

Eviction legislation gains steam, while residential construction spending continues Rise. D.C. hands out $135M toward new affordable housing projects, while Concord buys affordable housing complex near St. Elizabeths East Campus, brokered by The Zupancic Group of Marcus & Millichap.

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January 28, 2022

2022 is starting out as an excellent year for multifamily investments. Find out the predicted trends for the upcoming months. TOPA has a massive effect on D.C.’s multifamily sales market. Fairfax County in Northern Virginia approves Covid relief and other funds for Tyson’s affordable housing project.

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January 21, 2022

Mortgage rates pop and rise to highest level in almost two years. Meanwhile, Freddie Mac forecasts continued multifamily growth in 2022. D.C. is forecasted to receive additional $17.7 million in federal rental assistance funds.

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January 7, 2022

See the pandemic rent growth migration patterns across the U.S. and find out how developers are adjusting to rising lumber prices. In the DC area, more than 15 office, apartment and hotel properties sell in $1.2B year-end closing rush.

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December 17, 2021

U.S. Housing starts rise more than forecast to eight-month high, while experts predict what the housing market will look like in 2022. In Northern Virginia Amazon commits $160M to Virginia affordable housing. Alexandria gets nearly $30 million in ARPA Funding this year – find out what the city’s been doing with it.

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December 10, 2021

Experts believe that Investing In Multifamily Homes Is A Smart Strategy For Diversification. Build-To-Rent Homes become The New American Dream. Fannie Mae Issues $100B In Green Bonds, while Jair Lynch Acquires Prince George’s County Apartments For $66m As Part Of Attainable Housing Strategy.

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December 3, 2021

How can building owners save energy and cut costs for tenants? In Washington, DC, CVS Health will invest $9.2 million in affordable housing. Find out which 10 D.C. neighborhoods that saw the highest home price appreciation in 2021.

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November 26, 2021

Construction costs take a toll on real estate investors, while long-term mortgage rates are back above 3%. Northern Virginia home sales down month-over-month unlike national trend. Find out what Arlington County’s ‘missing middle’ housing study means.

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November 19, 2021

See what are the pandemic takeaways for multifamily owners. Home builder confidence is up for third straight month despite shortages. In D.C., the final map of new ward boundaries are released. County council majority expresses support for Montgomery Thrive 2050.

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November 12, 2021

Amazon puts pressure on Arlington’s housing market, while Northen Virginia is to become home to the 5 tallest buildings in the area. Across the U.S. multifamily investors look to student housing as an attractive alternative.

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November 5, 2021

More tenants working from home bring new expectations of landlords and amenities., while opportunities still thrive for investors in ever-changing multifamily sector. In DC area, redistricting committee narrows down likely options for redrawing wards and proposed Tysons East development would replace standalone houses with townhomes and parks.

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October 29, 2021

Multifamily market conditions showcase strong improvement. However, there is still a prevailing need for affordable housing and the future of office space. Find out how the Class A apartment market has recovered in the DC region.

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October 22, 2021

Investors flock to certain assets, shaping a new future for CRE value play. Across the U.S., some builder confidence grows but some concerns remain. In D.C. office-to-housing conversions grow in popularity.

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October 15, 2021

FHFA raises GSEs’ multifamily loan cap to $156B. Rental assistance payouts may be speeding up, but victory over mass evictions is not assured. A market analysis says that today’s tight housing market is overbuilt and is currently one of the lowest supplies on record.

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October 8, 2021

As the pandemic persists, renter preferences continue to shift, and a record number of commercial spaces converted into apartments this year. In D.C., The Zupancic Group of Marcus & Millichap sets record price per unit for multifamily property across from The Parks at Walter Reed.

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October 1, 2021

Rents skyrocket the many U.S. cities, while multifamily construction has never been slower. Find out why affordable housing is no longer a niche investment strategy. Maryland Department of Housing and Community Development announces $135 million in rental assistance for tenants and landlords affected by the COVID-19 pandemic.

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September 24, 2021

Fannie Mae extends multifamily protections for renters indefinitely. The D.C. area leaders consider prioritizing equity in transportation and land use planning. In the meantime, massive projects get approved near GMU Manassas.

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September 17, 2021

HUD announces $180+ million in COVID-19 funding for multifamily owners. In D.C., the Zupancic Group Brokers Sale Of Northwest D.C. apartment building through the bankruptcy process, while organizations voice support for extending the rent-stabilization bill in Maryland.

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September 10, 2021

Multifamily development rebounds faster than expected, while apartment rents continue their upward tear. Multifamily construction picks up in smaller cities across the U.S. In Virginia, The Zupancic Group completes a $6.25 million sale of Glendale Terrace Apartments in the direct path of Amazon HQ2.

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September 3, 2021

Biden administration takes steps to add 100K affordable housing units, while 750,000 households face eviction. Across the U.S., residential construction spending continues to rise. The Zupancic Group of Marcus & Millichap sells a multifamily property in Alexandria for $6.25M.

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August 27, 2021

Second CDC eviction moratorium gets overturned by Supreme Court, while Fannie Mae raises the forecast for multifamily housing production. In D.C., Mayor Bowser announces the District is among the first jurisdictions to achieve a federal milestone for emergency rental assistance.

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August 20, 2021

Find out why now is the time for post-pandemic expansion in the real estate industry. Marcus & Millichap retained to sell two newly-built coliving properties in northwest Washington, D.C. Meanwhile, Virginia extended its covid-19 eviction protections until June 2022.

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August 13, 2021

$10 million was awarded to help first-time homebuyers in Fairfax County. Learn how to get the most out of your rental property investments and how multifamily marketers can make the most of social media engagements.

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August 6, 2021

Biden’s infrastructure bill includes affordable housing, while property investors pay up for apartment deals as rents spike. In addition, multifamily, industrial sales highlight a strong week for mid-market deals.

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July 30, 2021

Investors are aggressively bidding up apartment prices as housing shortages loom, while Freddie Mac multifamily’s outlook returns to pre-pandemic levels. D.C. area is among regions facing mortgage delinquency risk. In northern Virginia, home inventory outpaces national numbers.

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July 23, 2021

See how to address the housing affordability crisis while home prices are spiking. WeWork officially pulls the plug on WeLive, while WeLive in Crystal City becomes Common and joins the National Landing Community. In the meantime, the Montgomery County council introduces plans to increase building energy standards.

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July 16, 2021

Economic rebound leads to a record increase in multifamily asking rents, while building costs are still in flux as lumber prices cool off. The DMV area officials press for building protections after the Florida condo collapse. In Northern Virginia, Amazon makes donations for affordable housing.

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July 9, 2021

As the pandemic winds down, some tenants still struggle to stay in their homes, while apartment rents reach a record high. As a landlord, see how you can get your multifamily amenities mix right. This week’s investor’s scoop – your guide for the top 5 northeast markets for multifamily transactions.

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July 2, 2021

See what a post-pandemic ‘new normal’ for apartment buildings looks like. Freddie Mac multifamily examines the impact of the end of eviction moratoriums on renters. Take a deep dive into what the end of emergency orders in Maryland and Virginia means for residents.

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June 25, 2021

Rethinking multifamily risk post-COVID. U.S. housing gaps widen as new construction booms, while landlords ask the Biden Administration to let the eviction ban expire. Find out how inflation could be real estate owners’ friend.

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June 18, 2021

Learn about the financial structure of multifamily real estate investing and whether America’s housing boom will lead to another financial crisis. Landlords ask the Biden administration to let the eviction ban expire. Additionally, the signs of lumber bubble bursting offer relief to developers, even though construction price inflation hits a critical level as developers report delays.

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June 11, 2021

Freddie Mac to offer bonds supporting housing for the intellectually and developmentally disabled. Take a closer look into how multifamily investment will eventually migrate to the blockchain. Common takes over co-living rival as industry consolidation of the current market trend continues. In DC, home prices hit a record high in May, but so did sales.

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June 4, 2021

Fannie Mae extends COVID renter protections through September. Learn how the pandemic has changed where people work and live. Finally, after many months, a construction boom is coming despite skyrocketing material prices.

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May 28, 2021

See what commercial real estate looks like a year into the pandemic and how cities are coming back stronger post-COVID. Research shows that the US multifamily rents increase by 1.6 percent in April – the most significant gain during the pandemic. In the District, Bowser adds $400 Million to DC’s Affordable Housing Fund over two years.

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May 21, 2021

Multifamily sentiment becomes boosted by competitive renters, while multifamily housing construction continues strong in April. Take a closer look at energy-focused financing for multifamily. In Virginia, JBG Smith plans to develop multifamily towers at National Landing.

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May 14, 2021

May becomes one of the best months for rent collection during the pandemic, as outlined in Marcus & Millichap’s economist’s view. Learn why Biden’s tax proposal becomes ‘very concerning’ for commercial real estate. Additionally, Amazon doubles its workforce in Virginia, hiring nearly 2,000 employees for the second headquarters.

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May 7, 2021

Take a look at this week’s commercial real estate forecast, including how urban multifamily properties will rebound in 2021 and whether the US is headed toward a new housing bubble. The new congressional bills introduced to promote multifamily housing and reinstate advance refunding, while the DC Council approves comprehensive plan amendments.

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April 30, 2021

Housing prices post the biggest annual gains in 15 years, while multifamily developments reflect a trend of younger generations renting longer. Assistance still available for renters amidst the COVID-19 pandemic. Learn how Virginia tenants fear Amazon workers will displace them. In DC, Marcus & Millichap completes a $3.34 Million bankruptcy sale of the Bennington Apartment community.

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April 23, 2021

Mortgage rates drop below 3%, while DC’s multifamily market stabilizes as spring leasing season heats up. In Montgomery County, the new law bans landlords from denying housing to people convicted of minor crimes. Learn about COVID-19 multifamily trends and understand what’s temporary and what’s here to stay.

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April 16, 2021

Biden’s infrastructure plan calls for cities to limit single-family zoning and instead build affordable housing. DC announces a new $352 Million rent assistance program, while its fastest-growing multifamily market now sports one of the country’s highest vacancy rates. In addition, Montgomery County seeks $3.3 Billion in funding for transit and pedestrian projects as part of the proposed infrastructure bill.

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April 9, 2021

As Q1 closes, the multifamily industry assesses the damage. Find out how the Biden stimulus bill will target homelessness and what to expect from multifamily underwriting this year.

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April 2, 2021

Biden Administration Unveils $2 Trillion infrastructure plan, including $213 Billion for affordable housing. Freddie Mac’s multifamily analysis shows the impact of expanded benefits on unemployed renters during COVID-19, while CDC extends eviction moratorium once again. In the meantime, JBG Smith starts residential construction at Amazon HQ2.

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March 26, 2021

Real estate continues growth during the pandemic. Learn how multifamily can support permanent remote work, and how artificial intelligence is impacting multifamily real estate. Take a deep dive into the DC region’s main economic weakness. The rest of DMV is on the rise, as Virginia awards $2.1 Million in homeless grants to NoVa, and the February housing data shows an increase in sales in Maryland.

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March 19, 2021

Suburban multifamily outperformance was more subtle than realized. Even though most affordable housing owners report missed payments, the multifamily asset class is quickly becoming the ‘belle of the ball’. The first look at the Southwestern DC’s largest apartment complex that is now up for sale.

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March 12, 2021

Learn where the apartment market stands one year after COVID. DC changes zoning rules to require more affordable housing while renters’ priorities shift with the ability to pay rent nearing pre-pandemic levels. Additionally, multifamily bank lending slows as delinquencies climb.

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March 5, 2021

The new market forces are changing multifamily value add strategies, even though multifamily concessions to keep falling in 2021. In DC, the Office of Planning proposes inclusionary zoning units in residential conversions. Also, get to know how sustainable transportation is helping to build tenant communities.

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February 26, 2021

Commercial/multifamily lending is expected to increase from 11% to $486 Billion In 2021, while property tax increases aim to boost affordable housing inventories. Additionally, CRE transactions retreat in January after closing 2020 with a bang. Learn how property managers support vaccination efforts and how multifamily pandemic investments are changing the industry forever.

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February 19, 2021

Small property sales remain resilient amid the pandemic; apartment rents continue to stabilize as hot housing markets beckon, while investors should be on the lookout for comeback stories. Find out what types of insurance policies are needed for multifamily properties.

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February 12, 2021

Freddie Mac announces a pricing of $360 Million multifamily small balance loan securitization. Learn how stimulus should support property values until the recovery begins, even though rental landlords lost $7.2 Billion in Q4 from missed rent payments. In the meantime, multifamily construction still suffers from scarcity and delays in obtaining materials.

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February 5, 2021

Global CRE investment rebounds dramatically. Apartment rents are near pre-pandemic highs, and renters’ credit scores are rising, showing a more competitive apartment market. In addition, Biden’s first executive action on housing begins reshaping fair housing rules, with 2021 having the potential to deliver the most robust growth since 1984.

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January 29, 2021

Find out what CRE investors most value in a deal and how investor excitement and rental demand are the perfect pandemic pair in multifamily real estate. Biden administration brings a new focus on housing policies, while more than $57 Billion in uncollected rent putting the squeeze on apartment landlords. Additionally, common unveils partnerships to develop multifamily projects for remote workers outside the biggest markets.

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January 22, 2021

Multifamily rents drop as pandemic impact persists, while the northeast US housing markets turn out to be the most vulnerable to COVID since multifamily tenants owe $70 Billion in unpaid rent. Find out how Biden’s first executive orders will impact CRE. Marcus & Millichap expands financing subsidiary and sees $900 Billion stimulus delivering Q1 economic lift.

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January 15, 2021

Construction commodity prices are on the rise. The multifamily market offers resilience in the face of economic pressures, with multifamily properties positioned for a strong 2021. In DC, residents can now do background checks on their prospective landlords, while Maryland is to receive $402 Million through federal emergency rental assistance program.

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January 8, 2021

Renting has become more affordable than owning in many counties, while Congress approves $25 Billion in rental assistance. Take a deep dive into how inflation will boost big CRE owners and how the condo sales rebound amid the dwindling inventory of houses.

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January 1, 2021

Fannie Mae extends its multifamily COVID-19 forbearance program through March 31st, while the affordable housing vacancy stabilizes in Q3. As a result, 2021 is set to bring great opportunities for real estate investors. Find out how to protect yourself from rental scams and what apartment hunters are looking for during the pandemic.

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