10 Markets That Will Be Flooded With New Apartment Supply In 2018
Following a slowdown last year, multifamily deliveries are expected to hit a peak in 2018. An estimated 360,000 new units are slated for delivery over the next 12 months, which is a 20% increase over 2017, according to a new Yardi Matrix report.
As of the fourth quarter, approximately 600,000 units were under construction across the U.S., but in the last three quarters of 2017, only 220,000 units were delivered nationally. This disconnect between construction and delivery has been attributed to the construction labor shortage, which caused the average project completion time to increase to 22 months during the same period, up from 16.5 months in the third quarter of 2013.
This year is expected to bring a rise in completions as units under construction reach the finish line, but new supply is predicted to level off in 2019 as an increase in vacancy rates coupled with construction lending regulations are causing some developers…
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Tech Company Doubles Down On Its North Texas Position
Oceus Networks Inc. extended its DFW leases, doubling down on its North Texas roots.
“We are excited about extending our leases in these key locations,” Oceus Networks Chief Technology Officer Kevin Stiles said. “These extensions show Oceus Network's commitment to…
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Meet Christine Battist, Avison Young's New Chief Financial Officer
Christine Battist's résumé over the past 25 years includes running two REITs, spearheading an IPO and spinning a Fortune 500 company off from its primary shareholder. Now, Battist has landed at Avison Young as its chief financial officer, the latest move for a company on a near decade-long growth pattern.
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Largest U.S. Bank To Expand Physical Footprint With 400 New Branches
JPMorgan Chase, the largest bank in the country, will open 400 branches in 20 new markets across the U.S. in the next five years.
The bank is making several in-house investments that will amount to roughly $20B, including the expansion of its home lending business and boosting pay for its retail-banking employees. It will also add approximately 3,000 jobs to its roster, the Wall Street Journal reports.…
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A Robot Invasion Will Soon Be Coming To A Hotel Near You
The one-foot-tall, six-pound robot vacuuming the floors of the JW Marriott is not exactly Rosie, the snarky blue female robot housekeeper that served “The Jetsons,” but Maidbot's Rosie robot could be cleaning the floors of hotel rooms in the near future.
Forget a toothbrush, toiletries or just want a bottled soda or a towel delivered to your room?
Savioke's Relay delivery robot — think a simple-looking R2-D2 — could fetch you anything that can fit inside its three-foot-tall body in three minutes. And it will not even ask for a tip.
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Aaron Halfacre Becomes RealtyMogul's First President
Continuing to shape the top of its organization, RealtyMogul has named Aaron Halfacre as president of the real estate investing platform.
A former Campus Crest president and chief investment officer, Halfacre took a year and a half break after the publicly traded student housing REIT was acquired by Harrison Street Real Estate Capital in a $1.9B deal.
As president of RealtyMogul, Halfacre will…
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8 Things You Need To Know About The Real Estate Retreat Redefining Dealmaking
Once a year, a carefully curated group of commercial real estate's best and brightest converge to build bonds, share experiences and explore conversations beyond the industry.
Welcome to Escape.
What began as an answer to the lack of networking platforms…
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