Capital
MSCI: Veris Residential Privatization Deal Drives 34% Year-Over-Year Increase in Apartment Sales in May
A report from MSCI Real Assets shows that apartment sales in May increased 34% year-over-year to $13.5 billion, but prices fell for the eighth consecutive month, with the annualized decline widening. The Veris Residential privatization deal was completed, becoming the first multi-billion-dollar entity-level transaction since 2024, driving a 311% surge in portfolio and entity sales, while single-asset sales fell 14%. The market faces interest rate pressures, and some owners such as Morgan Properties continue to hold long-term strategies.
Elme Communities Liquidation Process Hits Snag: Riverside Apartment Deal Terminated
Elme Communities' liquidation plan encountered an obstacle on June 17, when the Beitel Group subsidiary terminated the agreement to acquire Riverside Apartments for $280 million. The company has restarted the sale of this property and continues to proceed with the sale of three other assets, but some transactions still face uncertainty.
Why Adam America is entering the student housing market
Adam America Real Estate has shifted from traditional multifamily housing to student housing, completing several projects and planning to build a student tower with over a thousand beds in Austin. CEO David Brickman discusses investment strategy, financing advantages, and competition on amenities.
Seven Key Points from Harvard's 2026 Housing Report: Slowing Construction, Rising Vacancy Rates, and Intensifying Cost Burdens
Harvard's Joint Center for Housing Studies 2026 housing report shows that economic headwinds are weakening housing demand, construction activity is sluggish, and vacancy rates are recovering but still below historical averages. Rental cost burdens are at record levels, low-income families face severe housing shortages, federal assistance is insufficient, and states are advancing housing reforms with unprecedented intensity.
Frank Cassidy on Driving Multifamily Housing Loan Policy Reform at HUD
Frank Cassidy joined HUD in April 2025 and was confirmed by the Senate in December of that year, serving as FHA Commissioner and Assistant Secretary for Housing. During his tenure, he drove multifamily housing loan policy reforms, including reducing mortgage insurance premiums, streamlining environmental reviews, and working to transform the agency's culture. This article is an interview with him by Multifamily Dive, in which he discusses industry challenges, policy achievements, and future outlook.
Trepp Data: Multifamily CMBS Servicing and Default Rates Both Decline in May
The latest Trepp data shows that in May 2026, the non-agency CMBS multifamily loan default rate decreased by 76 basis points month-over-month to 6.95%, and the specially serviced rate decreased by 57 basis points to 8.51%, both recording the largest improvements in the commercial real estate sector for that month. The overall CMBS default rate edged up by 1 basis point to 7.55%, while the specially serviced rate decreased by 51 basis points to 10.86%.
Swapnil Agarwal's efforts to preserve his apartment portfolio
Last week, Swapnil Agarwal reached a forbearance agreement with lenders to avoid foreclosure auctions on three North Texas apartment properties. He plans to buy time for his approximately 15,000-unit portfolio through refinancing, paying extension fees, and other measures.