multi-family

rental housing industry

Canadian Apartment Magazine

Multi-family housing demand on the rise: CBRE

According to a recent report from the CBRE, demand for multi-family housing is stronger than ever in Canada and, as such, developers are shifting their focus to purpose-built rental housing. The CBRE says multi-family starts rose 52.2 per cent over the five-year average in 2014 as a result of low vacancy rates and a lack of affordable home ownership opportunities.
Avison Young

Canadian Apartment Magazine

Starlight purchases Belle Haven Apartments

The previously announced acquisition of North Carolina’s Belle Haven Apartments by the Ontario-governed Starlight U.S. Multi-Family Core Fund (Starlight) has closed. Belle Haven Apartments, a group of seven three-storey, 176-unit garden style apartment complex, was purchased by Starlight for approximately $26.4-million U.S.
Recycling

Canadian Apartment Magazine

Calgary approves multi-family recycling bylaw

As of Feb. 1, 2016, Calgary multi-family building residents will have access to more robust on-site recycling services under the region’s new council-approved Waste & Recycling Bylaw. Apartments, condominiums, townhouses and other multi-family complexes will be required to accept paper and cardboard, food cans, glass jars, plastic containers and bags. The City of Calgary will not collect multi-family recycling, but builder owners and managers will be tasked with determining which private company best serves the needs of their building.
Construction Cranes

Canadian Apartment Magazine

Multi-family sector leads Ont. housing starts

According to the Canada Mortgage and Housing Corporation (CMHC), an increase in Ontario housing starts in the multi-family sector over the last several months can be attributed to low vacancy rates, growing prices in the detached housing market and increasing urban intensification.
Heritage_on_Millenia

Canadian Apartment Magazine

Milestone REIT to acquire Orlando apartment

Heritage on Millenia (Heritage), a 303-unit multi-family apartment community in Orlando, Florida, will soon be acquired by the Ontario-governed Milestone Apartments Real Estate Investment Trust (Milestone). Heritage will be purchased for $40.0-million U.S. and is expected to be fully acquired by March 31.
Avison Young

Canadian Apartment Magazine

Starlight to acquire North Carolina apartment

The Ontario-governed Starlight U.S. Multi-Family Core Fund (Starlight) has entered an agreement to acquire a 176-unit apartment complex in Charlotte, North Carolina. Located at 9005 Post Canyon Lane, the LEED-Silver certified property, known as Belle Haven Apartments, will be purchased for approximately $26.4-million U.S.
Vancouver

Canadian Apartment Magazine

Vancouver building permit values hit new highs

The City of Vancouver issued $2.83-billion in building permits last year, exceeding previous records set before the recession in 2008. Building permit values increased 28 per cent, year-over-year, from 2013 and 77 per cent from 2008. Several multi-family rental developments were key contributors to the substantial gain.
sunset_point

Canadian Apartment Magazine

Pure Multi-Family REIT sells Texas apartment

Canadian-based Pure Multi-Family REIT LP (Pure Multi) has completed the sale of a 408-unit Texas apartment for $27.95-million U.S. Located at 2015 Randy Snow Rd. in a submarket of Dallas-Fort Worth, known as Arlington, the Sunset Point Apartments (Sunset Point) community was constructed in 1983.
The_Manor_Homes_of_Arborwalk_Pool_Waterfall

REMI Network

Milestone to acquire Kansas City apartment

The Ontario-governed Milestone Apartments Real Estate Investment Trust (Milestone) has agreed to purchase a 280-unit multi-family apartment community in Kansas City, Missouri. The complex, known as The Manor Homes of Arborwalk (Arborwalk), will be purchased for $37.25-million U.S.
Finance

Canadian Apartment Magazine

Multi-family sector adds $24-bil to Canada’s GDP

According to a report from the Real Property Association of Canada (REALpac), the Canadian multi-family sector contributes approximately $24-billion to Canada’s economy on an annual basis. This number includes revenue generated through construction, investments, ongoing maintenance and operations, and job creation.