Greatwater Opportunity Capital is bringing a new $14 million multifamily project to Detroit’s Midtown neighborhood. Located at 3740 Second Avenue, the 39,355-square-foot four-story building will feature 33 studios and 24 one-bedroom apartments. Greatwater leveraged Opportunity Zone funds and financing from Diversified Members Credit Union. McIntosh Poris is the architect, and the Monahan Company is the …

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StarPoint Properties closed the $49.5-million sale of 6th Street Point, a new 179,000-square-foot industrial property located on a 9.8-acre site at 24712 6th St. in San Bernardino. The buyer for the Opportunity Zone (OZ) project was a global institutional real estate firm. “While most OZ investments are planned for a 10-year hold, our Prime and …

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Waterton, a Chicago-based national real estate investor and operator, launched its new Outbound Hotels brand, a collection of locally-minded hotels offering differentiated lodging options for lifestyle travelers seeking outdoor-inspired experiences near town centers and cultural hubs. “Outbound Hotels expands the traditional hospitality model,” said David Schwartz, CEO and chairman of Waterton. “Our portfolio of hotel …

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Trilogy Investment Company and Pinnacle Partners are delivering their second joint Opportunity Zone build-to-rent community project. The North Davidson (NoDa) project brings the organizations’ best-in-class development capabilities in a strong location to expedite construction of market-driven housing solutions.  Targeting Opportunity Zone projects in Charlotte, Trilogy purchased the NoDa project from Pulte Homes in partnership with …

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The U.S. apartment sector isn’t showing any signs of slowing down. According to Yardi Matrix’s April 2022 “National Multifamily Report,” year-over-year rent growth continues to climb, while occupancy remains in the “full” category at above 96%.  Related news: Read more Yardi Matrix report coverage.  The report stated that asking rent increased by $15 in April …

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Economists largely expect the U.S. to rebound in Q2 as some of the factors holding back growth early in the year—including supply-chain issues stemming from Russia’s invasion of Ukraine—subside, according to CNBC.   Q1’s decline was the worst for GDP performance since the 31.2% drop seen in Q2 2020, CNBC reported. Real GDP decreased at …

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