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May 16, 2019

Supermarket Spike: Measuring Apartment Rent Growth Around New Grocery Stores

Apartment developers expect to receive higher rents when a new grocery store opens next door, but a new report sheds light on which grocery chains come with the largest rent premiums and where in the D.C. region that premium tends to be highest. 

Supermarket Spike: Measuring Apartment Rent Growth Around New Grocery Stores

Across the D.C. region, apartments near a new grocery store had rents more than 5% higher than the submarket average at the time of the store's opening, Newmark Knight Frank's Grocery Store Effect report found. NKF's report analyzed 55 grocery stores across the region that…

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Recently Acquired Apartment Tech Firm Zego Unveils Artificial Intelligence Bot For Apartments

PropTech provider PayLease recently gained access to a multifamily app and artificial intelligence designed for property managers through its strategic purchase of apartment technology firm Zego. 

Recently Acquired Apartment Tech Firm Zego Unveils Artificial Intelligence Bot For Apartments

Through this acquisition, PayLease now has the opportunity to leverage Zego’s AI assistant, or bot, which was recently launched as part of the company’s existing app for apartment managers. Through the AI tool, building managers can communicate directly with property tenants through automated messages.  PayLease, which is backed by tech investment firm

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CalSTRS Buys Large Stake In Fairfield Residential From Brookfield

CalSTRS Buys Large Stake In Fairfield Residential From Brookfield

The California State Teachers' Retirement System, better known as CalSTRS, has acquired a 65% stake in multifamily operator Fairfield Residential from Brookfield Asset Management, according to several reports. The price of the acquisition was not disclosed.CalSTRS is the world's largest educator-only pension fund with a portfolio valued at $227.8B.…

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Seller Of Amazon HQ2-Adjacent Apartments Doubles Its Money

Seller Of Amazon HQ2-Adjacent Apartments Doubles Its Money

Amazon is driving up prices for apartment buildings around its second headquarters site in Arlington. Paradigm Cos. earlier this month sold a 533-unit Pentagon City apartment building to Polinger Co. for $228M, the Washington Business Journal reports.HFF announced Tuesday its…

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