{ Full Bloomberg Article Here } Apartment prices prove most linked to jobs growth in the U.S. Greedy landlords or just plain jobs growth? A new Morgan Stanley analysis sheds some pictorial light on America’s rising rents. Home ownership rates in the U.S. have plummeted to a near five-decade low in the aftermath of the U.S. housing bubble, leaving millions of …
Rock Apartment Advisors Closes $40M in Sales in AL
{ Full Multi Housing News Article Here } The brokerage firm facilitated the sale of two multifamily properties that marked the first acquisitions for the buyers in Huntsville and Auburn, Ala. Birmingham, Ala.—Multifamily commercial brokerage firm Rock Apartment Advisors has closed two apartment deals in its home state of Alabama totaling $40.7 million. The first transaction was the $18 million sale …
Auto supplier picks Alabama for $37.9M investment, new jobs
{ Full BBJ Article Here } A German auto supplier will establish its first North American facility in Montgomery, which is expected to create 235 jobs. Made in Alabama reports today that Gerhardi Kuntstofftechnik held a groundbreaking ceremony Tuesday to announce its plan to invest $37.9 million in a new facility. “This is a great opportunity for Gerhardi, and we …
Yulista Aviation expansion could create up to 200 jobs
{ Full Birmingham Business Journal Article Here } Yulista Aviation could be expanding its workforce in Huntsville by as many as 200 employees. The company, which announced plans last month to bring a new hangar and support facility to the Huntsville Executive Airport, broke ground on the $13.5 million expansion last week. The expansion will bolster the company’s capabilities for …
Tuscaloosa plant expanding
{ Full Birmingham Business Journal Article Here } Michelin North America last week announced plans for an $8 million expansion at its BFGoodrich plant in Tuscaloosa. The 29,000-square-foot facility, which has been operating for more than 70 years, is set to see a 215 percent increase in space available with the construction of the additional storage space. The company currently …
Yardi: Rents Hit All-Time High in June
{ Full Multifamily Executive Article Here } For the third straight month, U.S. apartment rents saw double-digit gains, according to Yardi Matrix’s monthly survey of 119 markets. This time, rents rose $10, or 0.9%, in June, to an all-time high of $1,213. In the second quarter, rents climbed 2.7% and 5.6% year over year. But it wasn’t all good news, …
Freddie Mac: Over 5 Million Baby Boomers Expect to Rent Next Home by 2020
{ Full Multifamily Executive Article Here } Freddie Mac has released a study of the housing plans and perceptions of those 55 or older, showing that nearly 6 million homeowners—and almost as many older renters—are looking to make at least one more move. And that move will be into rental housing. Digging deeper, the survey shows that more than 5 …
Auburn apartment property sells for $18M
{ Full BBJ Article Here } Atlanta-based Mesa Capital Partners purchased Arbors at Meadow Brook, a multifamily property in Auburn, for more than $18 million. Birmingham’s Rock Apartment Advisors brokered the sale, which followed a competitive bidding process. The purchase price was $18.1 million, or $84,579 per unit. According to a press release, the financing was arranged by Capital One’s …
How Brexit Impacts U.S. Multifamily
{ Full Multifamily Executive Article Here } Great Britain voters decided on June 23 to leave the European Union. The somewhat surprising 52%-48% result — the “remain” side had a narrow lead in the final pre-vote polls — was capped by Prime Minister David Cameron’sannouncement that he would resign. Analysts are mixed about the effect the “Brexit” from the EU will have on the …
Rock Advisors’ Bo Flurry: Meet the executive atop Birmingham’s multifamily mountain
Bo Flurry is in the midst of one of Bham’s hottest markets { Full BBJ Article Here }