February 2014 Table of Contents

Features
Battle Test 2014 Leasing Season Preview Battle Test

As rent growth declines, more new units come on line, and concessions return in some markets, operators will need to differentiate themselves to win renters amid fierce competition this year. Read more

Editor's Letter Gathering Force

It amazes me how quickly they can go from happiness to hatred, from friendship to war, in the blink of an eye. Read more

Threat Alert? Homeownership Rate Inches Up

As the homeownership rate inches back up to 65 percent, should the multifamily market feel threatened? Read more

Mergers and Acquisitions | Done Deal Eat, Pray, Merge: An Inside Look at the Essex-BRE Deal

A dinner with investors in November may have nudged BRE Properties to join forces with Essex Property Trust. Read more

Green Building Alluring Peak: Architects Create Zero Net Energy Designs

Tetris Block, a special recognition winner for the Architecture at Zero competition, takes a pragmatic approach to designing a mixed-use building that produces at least as much energy as it uses. Read more

Taper Caper: Where Interest Rates are Heading for Multifamily Borrowers

As the Federal Reserve tapers its rate-lowering bond purchases, what movement should borrowers expect ahead in the benchmark 10-year Treasury yield—and in turn long-term mortgage rates? Read more

Cap Rate Outlook: Inflation vs. Investor Demand

Cap rates often rise when interest rates rise, but that may not be the case in many markets in 2014. Read more

More Lender Competition (and More IO) in 2014

Despite expectations that multifamily mortgage rates will move up at least moderately in 2014, borrowers should nevertheless encounter exceptional liquidity in the coming year. Read more

Hines’ 322-Unit WaterWall Place, Houston New Developments Hines’ 322-Unit WaterWall Place, Houston

Because of the stellar location and its strong housing mix, Hines knew to go the luxury route. Working with Houston-based architecture firms Wallace Garcia Wilson and Jackson & Ryan Architects, the firm decided to construct a seven-story, 316,000-square-foot, steel building that could meet the area’s increasing density demand. Read more

Green Building Green = Money … and Safety?

Could a rain garden on the lot of a private building help decrease crime in the neighborhood? Read more

Minneapolis Apartment  Renovation Helps History Shine Adaptive Reuse Minneapolis Apartment Renovation Helps History Shine

After an extensive, 14-month renovation, Village Green Has breathed new life into what was once Minneapolis’ tallest tower. Read more

Chasing Yield: Secondary, Tertiary Markets to Shine in 2014

The first wave of opportunistic investment coming out of the recession has run its course, as investors shift to better yielding opportunities off the beaten path. Read more

Harvard Report Warns of Growing Affordability Problems Affordable Housing Harvard Report Warns of Growing Affordability Problems

Affordability problems for American renters are skyrocketing, says a report from the Joint Center for Housing Studies of Harvard University. Read more

Government Hope for Housing in Budget Deal

Budget compromise in Congress may finally provide some relief for federal housing programs. Read more

Small-Loan Market May See Big Competition This Year Debt Small-Loan Market May See Big Competition This Year

Richard Wolf, former head of Fannie Mae's small loan program, believes the market for debt below $3 million is poised for a strong year. Read more

How To Navigate Property Management Takeovers, Hostile or Not  Operate How To Navigate Property Management Takeovers, Hostile or Not

Property management takeovers can be hostile and downright messy. But with a bit of planning, new management can create a seamless transition in a short time period. Read more

Corner Office New Year Demands New Investment Strategies

The approaches to multifamily investment that worked coming out of the recession are no longer a sure thing. Read more

Top 10 Rent-Growth Markets of 2014 Lists Top 10 Rent-Growth Markets of 2014

Industry experts project that some of the largest metro areas will see some of the largest rent growth next year. Read more

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