December 2010 Table of Contents

In 1995, a young U.S. Department of Housing and Urban Development (HUD) researcherapproached then-HUD Secretary Henry Cisneros to lay out an opportunity. The American economy was about to take off into an almost unprecedented economic expansion, and, with the tailwinds of this growth at its back, the young man suggested that the government could help grow the homeownership rate to historic levels. Given recent studies touting the societal benefits of ownership, this plan appeared sound to Cisneros. Read more

Waterton Residential moves to multiple equity investors and a debt investment model as it waits out a freeze in value-add opportunities. Read more

As the balance of housing shifts, more people will rent apartments, which doesn't bode well for impersonal, rude managers. Read more

For a second consecutive year, Texas dominates Milken Institute’s Best-Performing Cities Index. Read more

So far, more than half of the apartment REITs have reported their third quarter earnings. And, they’re showing that the recovery is continuing into the fall, especially for those REITs in higher barrier to entry markets. Read more

For months now, buyers and analysts decried the lack of apartment portfolios available for trade on the market. But as cap rate have fallen, that’s slowly changing. Consider the 3,237-unit portfolio that Houston-based Camden property Trust and New York-based DRA Advisors put on the market from their joint venture in mid-October. Read more

RealPage didn’t wait long to make a splash on Wall Street. In conjunction with the firm’s third-quarter (and innagural) earnings call earlier this week, the Carrollton, Texas-based multifamily software and services provider announced that it has acquired Greer, S.C.-based multifamily call-center firm Level One. The $54 million cash deal is the first since RealPage completed a 14 million share IPO this summer at a market cap of $1.07 billion. Read more

The increases just keep coming in apartment transactions. Sales volume rose 63 percent to a total $8.5 billion from the second to third quarter, according to New York-based Real Capital Analytics. That’s the biggest jump in the last five years, according to RCA. Even more impressive: it’s an 130 percent jump over the third quarter of 2009. Read more

The apartment industry certainly has demographics on its side. But some recent surveys and trends are turning some commonly held demographic beliefs on their ear. Read more

Pending official approval (expected October 19) from Cupertino, Calif.-based Apple, the Archstone iPhone app will hit the Apple App Store this week. The Englewood, Colo.-based Archstone gave Multifamily Executive an exclusive sneak peak into the iPhone technology prior to its public launch. Read more

There are a lot of private and institutional investors chasing multifamily right now. But securing this money in the form of an acquisitions or development fund takes more than owning a couple of units. In fact, with the economic meltdown and the legacy loan problem that many commercial real estate owners are facing, equity sources haven’t been eager to hand out the cash. Read more

San Francisco, bolstered by technology, has a strong demand and limited supply that bodes well for its apartment investment future. Read more

A green dorm for grad students improves student life at a Southern California campus. Read more

In 2009, it would have been difficult to find anyone who wanted to build in downtown Oakland, Calif. The capital markets had fallen apart, unemployment was rising, and the city had its own distinct issues that could scare even the most steadfast of developers. Read more

Multifamily Developers Embrace Forensic and Thermal Imaging Technologies Read more

Choose countertops that appeal to both residents and your budget. Read more

The three-story, mixed-use sustainable development was the site of a firmer 1970s textile union building. Read more