News

COVID-19: A WHOLLY UNPRECEDENTED POLICY RESPONSE

"On March 27, 2020, an enormous $2.2 trillion emergency coronavirus stimulus package was signed into law by President Trump. The legislative package—the Coronavirus Aid, Relief and Economic Security (CARES) Act—is the largest rescue package in U.S. history. The stimulus bill is aimed at providing immediate economic relief to households and businesses large and small."

March 31, 2020


Walmart and Publix, Landlords as Well as Grocers, Waive Rent to Businesses Hit by Coronavirus

"Walmart and Publix, Landlords as Well as Grocers, Waive Rent to Businesses Hit by Coronavirus."

March 30, 2020


Oaktree Sees Market Disruption as Time to Buy

"Distressed Debt Firm, Which Tied Up With Brookfield Last Year, Launches $1 Billion Fund."

March 27, 2020


Buena Park complex fetches $8M

"Buena Park complex fetches $8M Knott Townhouses, a four-building, 28-unit multifamily property in Buena Park at 7051 9th St. has been sold for $8million, according to the broker, Cushman & Wakefield’s Irvine office."

December 13, 2019


Fed Says Three Rate Cuts Are Enough, Keeps Interest Rates Unchanged

"At its last scheduled meeting of the year, the Federal Reserve Open Market Committee decided to keep the target range for its Fed funds interest rate unchanged at 1.5% - 1.75%. The Fed’s official post-meeting statement released on Wednesday afternoon contained only minor changes from its October statement underscoring its 'stay the course' stance."

December 12, 2019


Housing Production Strategy Shifts Toward Southern California’s Coastal Counties

Regional officials in Southern California are pushing for more housing production in coastal rather than inland areas, marking a significant policy shift that could be severely put to the test as the state looks to solve one of the nation's worst shortages of affordable housing."

November 13, 2019


AB 1482 Tenant Protection Act of 2019: Rent Caps Quick Facts

"As you know, Governor Newsom called for statewide rent control in his State of the State Address in January. Throughout the year, CalRHA has engaged in ongoing negotiations with the Governor and Legislature on this issue. Ultimately, the Governor pushed a deal through the Legislature via AB 1482, which will cap annual rent increases in California at 5%

October 18, 2019


Tenants at “Dozens of Buildings” Receive Eviction Notices Ahead of State’s New Rent Law

"Tenants at “dozens of buildings” receive eviction notices ahead of state’s new rent law."

October 15, 2019


California's New Rent Control Law May Have Limited Effect on Apartment Investors, Executives Say

"California's new rent cap and eviction protection law may have a limited effect on the Golden State's surging apartment market following some uncertainty and disruption for investors, according to sales brokers and rental housing industry executives."

October 14, 2019


California Governor Signs Statewide Rent Control Into Law

"California Gov. Gavin Newsom signed one of the nation’s strongest rent control and tenant protection laws, making his state the third to pass rent control legislation this year in an effort to address a growing affordable housing crisis.

October 08, 2019


Rent Control May Be Heading Back to California Ballot

"A division of Advocacy groups AIDS Healthcare Foundation filed papers to get apartment rent control back on the California Ballot after a prior measure was defeated by state voters last year."

April 23, 2019


RCA Insights: US Commercial Real Estate Endures Bumpy Ride in Q1

"U.S. commercial property deal volume fell at double-digit annual rates in the first quarter of 2019, preliminary data shows, as a bumpy interest rate environment led to a growing sense of investor caution. The size of deals in the pipeline suggest an improvement later this year, however."

April 17, 2019


Resort Backers Surfing on Success of Indoor Water Park Near Southern California Coast

"Great Wolf Resorts Inc. landed a $170 million refinancing of its debt on its flagship property in Garden Grove, California, on favorable terms, a reflection of the unlikely success of an indoor water park and hotel resort just a couple miles from Disneyland Resort and the sundrenched Orange County beaches."

April 11, 2019


Investors Put the 'Work' in Workforce Housing

"The multifamily markets is undergoing a shift out West where focus has turned to B and C class properties, also dubbed “workforce housing.”

March 14, 2019


Optimism Abounds in Multifamily Investment

"The overall state of the multifamily capital markets and the outlook for Colorado’s multifamily market."

March 14, 2019


OC Experiences A Sunny Multifamily Investment Climate

"The strengthening economy has created a tremendous tailwind for apartment demand in a metro where the cost of a single-family home is out of reach for most households. As a result, Or-ange County’s multifamily vacancy rate stood at the extremely low level of 3.8 percent at the end of the third quarter."

January 07, 2019


Workforce Housing Forecasted to Outperform Multifamily

"There is a strong demand for workforce housing apartments with the shortage expected to continue in 2019."

January 03, 2019


Rising Interest Rates Could Increase Rental Demand in San Diego

"Higher mortgage interest rates will push more people into the San Diego County rental market and likely increase rents, said a new report from Marcus & Millichap."

November 27, 2018


U.S. Commercial Real Estate Pricing Growth Cools In Late 2018

"The company's U.S. National All-Property Index was up 6.4% from a year ago. The pace of annual price growth has been gradually slowing since a 2018 high of 8.4% in February, but in fact, price growth as measured by annual gains has been slowing down for about three years, RCA reports."

November 25, 2018


Increased Demand and Competition for Contractors

In each of the past few years, there has been an increase in the work load among the contractors and handymen. They are hiring more workers and increasing their prices. It’s good news for contractors, but it’s increasing harder for owners, operators, and developers to get contractor bids in their budget and the work done on schedule." - Mark Bridge

November 04, 2018


CA Professionals and the New Tax Law

Understanding Cost Segregation and increased depreciation deductions - by Mark Bridge

November 01, 2018


IRS Issues Opportunity Zone Proposed Regulations

On Friday, October 19 the Internal Revenue Service (IRS) issued several critical documents relating to the Opportunity Zone Incentive. This includes: 74 pages of Proposed Regulations, Revenue Ruling 2018-29, Draft Form 8896 with Draft Instructions.

October 24, 2018


Apartment Rent Growth Accelerates in the 3rd Qtr of 2018

"After a slowdown, apartment rent growth increased to 2.9 percent in the third quarter of 2018."

October 09, 2018


Anaheim Minimum Wage Measure Exempts Disneyland, Targets Developers, Tenants Of J.W. Marriott And Westin

"Disneyland is exempt from a proposed living wage measure, but the developers of a J.W. Marriott and a Westin along with certain retail and restaurant tenants at those four-diamond hotels would be required to increase workers' minimum wage to $18 by 2022, according to the city of Anaheim attorney."

October 08, 2018


Multifamily Starts Mixed in Top 10 Metros in H1 2018

"Half of the top 10 metropolitan markets for commercial and multifamily construction starts showed increased activity during the first six months of this year compared with a year ago, says Dodge Data & Analytics, while the other five metros registered decreases."

August 17, 2018


As Multifamily Rents Soften, Investors Turn To Net-Lease Assets

"In June, the median asking rent for a one-bedroom apartment dropped 3.1% compared to last year, and fell 15.1% from its peak in March 2016, Business Insider reported. Investment sales have also slowed across multiple asset classes, down 50% from the peak of the market in 2015."

August 15, 2018


Orange County Economy Remains on Mostly Solid Footing

"Orange County’s unemployment rate reached a near 20-year low earlier this year, and remains remarkably tight, even though it has inched above 3 percent at the end of June."

August 14, 2018


Rent Control Initiatives Miss November Deadline in Santa Ana, Glendale

"Tenants rights advocates in two Southern California cities missed the deadline to get rent control initiatives on the November ballot, although they still have a shot at the election cycle in 2020."

August 03, 2018


Tax Reform Gives Rise to New Business Strategies

'Recently enacted restrictions on business interest deductibility are leading more firms to pursue sale leaseback agreements to unlock property value and grow operations, according to Marcus & Millichap's Dean Giannakopoulos. '

August 01, 2018


OC Multifamily Investment Heating Up in 2018

"Investment volume was up 20 percent compared with the same period last year, after notching $1.05 billion in sales."

July 30, 2018


Disney, Wincome Group Could Abandon Future Projects In Anaheim If Minimum Wage Measure Passes

"The Walt Disney Co. and Wincome Group might walk away from planned projects in Anaheim if voters pass a ballot measure in November that would increase the minimum wage for workers in hotels that receive city subsidies."

May 31, 2018


2018 Q1: Multifamily Research Market Report

"Demand drivers support tight vacancy during a rise in large-scale construction. Orange County’s apartment inventory expanded by 6,000 units last year, the largest annual delivery total in at least 20 years."

April 30, 2018


Proposal for 400-plus homes at Westridge Golf Club is Alive again in La Habra

"A proposal to replace La Habra’s Westridge Golf Club with more than 400 homes is finally moving forward, after the original developer was bought by a company that was in turn acquired by Lennar Corp."

April 18, 2018


2018 Multifamily Trends: Learning from Homeownership Demand

"In a candid exchange with MHN, Jay Lybik, vice president of research services for IPA, a division of Marcus & Millichap, detailed what’s driving the sector’s growth."

April 02, 2018


42.4 Million Multifamily Portfolio Trades Hands in Greater Los Angeles

"Marcus & Millichap announced the sale of a four-property, 214-unit multifamily portfolio in Santa Ana, California. The properties sold for a total of $42,475,000, which equates to more than $198,000 per unit."

March 19, 2018


Anaheim's Growing Platinum Triangle

"When Pendulum Property Partners and Long Wharf Capital LLC acquired the Stadium Crossings mixed-use commercial property in Anaheim in December, it signaled the demand, growth and potential of the city's Platinum Triangle area."

March 19, 2018


Apartments Outperforming Other Assets, Says NMHC

"According to a recent study, multifamily communities are outperforming most other commercial real estate property types, whether it be on a risk-adjusted or unadjusted basis, regardless of holding period, geographic region, metro size or growth rate."

March 15, 2018


Buy Commercial Property for the Income, Study Says

"Commercial real estate is a good investment for income not, as most investors believe, rising property prices, according to a new study."

March 14, 2018


Rising Yields Won't Blunt the U.S. Economy's Momentum-For Now

"There’s too much momentum and too little debt for rising interest rates to derail the U.S. economic expansion."

March 13, 2018


OC's Tight Job Market Continue's to Grow, Up 2.5% in a Year

Orange County, with Southern California’s tightest job market, managed to add 39,100 positions from January 2017 to January 2018, a growth rate of 2.5 percent."

March 08, 2018


Need to Know Real Estate News...

"The strong need for office space in the Irvine Spectrum, will be accommodated by a planned complex of nine office buildings."

March 05, 2018


Consumer Sentiment Hits 99.9 in February Vs. 95.5 Estimate

"Favorable references to government policies reached the highest level record in more than a half century - says the survey's chief economist Richard Curtin."

February 16, 2018


Los Angeles Unemployment for December Breaks 11-Year-Old Record Low

"Unemployment in Los Angeles County finished 2017 at the lowest year end rate in at least 27 year."

January 30, 2018


US Weekly Jobless Claims Total 220,000 Vs. 250,000 Expected

"The number of Americans filing for unemployment benefits fell more than expected to the lowest in 45 years."

January 18, 2018


New Tax Law Holds Favorable Prospects for Commercial Real Estate

"By adding business-friendly provisions and reducing uncertainty, the new law holds favorable prospects for commercial real estate, the report states, with potential to boost space demand and capital flows."

January 16, 2018


Orange County Sees Future in Transit-oriented Development as Freeways Get More Jammed

"While transit-oriented living at apartment buildings may not be incredibly popular now, public officials demand for this type of housing will increase as the 91 freeway becomes even more crowded."

January 02, 2018


Investors Expect 2018 to be Another Solid Year for Apartment Sales

"Going forward, there is a bit of renewed optimism... and we are still at an elevated level when it comes to transaction volume," says John Sebree, first vice president and national director of the national multi housing group for Marcus & Millichap.

NREI Online - January 02, 2018