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Multifamily Dive
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We provide business journalism and in-depth insight into the most impactful industry news and trends.
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Multifamily Dive provides in-depth journalism and insight into the most impactful news and trends shaping the multifamily housing industry. Multifamily Dive is a leading industry publication operated by Industry Dive. Our business journalists spark ideas and shape agendas for 13+ million decision-makers in the most competitive industries.
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Over 100 former residents of 14565 E. Alameda Ave. in Aurora, Colorado, have sued the property's owner, operator and contractors two years after an explosion at the property displaced them from their units. The plaintiffs allege that negligence on the part of the defendants led both to the explosion and later property theft. #Multifamily
Manager, contractors at Colorado complex sued by over 100 former tenants after explosion
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While RealPage and multiple apartment owners and operators are facing?class-action lawsuits?and state and federal litigation, some larger landlords are revising how they share data behind the scenes. After the Department of Justice?filed an antitrust lawsuit?against RealPage in August, Remen Okoruwa said one of his clients created a new data processing agreement dictating that its vendors are no longer allowed to aggregate and use their data for anything other than the specified purpose. “They’re pushing it out to every single vendor they work with,” Okoruwa told Multifamily Dive. Other tech executives, like Blerim Zeqiri and Vidur Gupta, and lawyers, like Michelle Taylon Lowery, echo these sentiments. Here's my story on how the RealPage cases are affecting data usage in the apartment industry. https://lnkd.in/eaGGG89P
Tech suppliers fear RealPage suits will have ‘chilling effect’ on data sharing
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The average multifamily rent has fallen by $3 from August to September, down to $1,750. However, this is more a consequence of the season than market weakness, according to Yardi Matrix. The Federal Reserve cut?interest rates on Sept. 18, and further cuts are anticipated in the future. The economy’s performance is providing tailwinds for the industry, with 3.0% GDP growth in the second quarter of the year and 254,000 new jobs in September.? #Multifamily #RentGrowth
Rent growth steps back for the fall
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Eastham Capital and Mosaic Residential Inc were able to acquire Amber Oaks and Park Place in the Houston suburb of Pearland earlier this month by demonstrating a track record of closing deals. “Our local partner, Mosaic, has an excellent history with the broker, and the broker knew that if Mosaic was awarded the deal, Mosaic would close,” Matthew Rosenthal told me. “In addition, one of the Mosaic partners was acquainted with the seller. That always helps as well.” Here is the story of the deal and the plans that Eastham and Mosaic have for the assets. https://lnkd.in/eMpJAuex
Eastham, Mosaic buy 2 Houston properties
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The Arkansas Fair Housing Commission has filed an anti-discrimination lawsuit against owner San Jersey Properties and operator Connors Management following a complaint from a resident of the companies' rental property in Conway, Arkansas. The suit alleges that the property manager treated the renter unfairly due to his familial status.
Arkansas Fair Housing Commission files suit after eviction threat against single father
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A new, $149 million grad student housing development is underway at the University of Maryland, taking the place of a residence hall that closed in 2020. Philadelphia-based developers Campus Apartments and Mosaic Development Partners JV are partnering with the university on the project, expected to open in 2026. #Multifamily #Student Housing
Campus Apartments, Mosaic partner on $149M grad student housing
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Maryland is now the 17th state, plus the District of Columbia, to pass a law allowing for certain eviction records to be sealed from the public. As of Oct. 1, Maryland district courts must shield all records in eviction proceedings that did not result in the removal of the renter from the property within 60 days of the judgment. #Multifamily
Maryland becomes latest state to seal eviction records
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A construction crane at the site of the Red Apple Group's 400 Central condo skyscraper in St. Petersburg, Florida, collapsed in Hurricane Milton's high winds on Wednesday night. The crane was rated to withstand winds of up to 110 mph, according to the Tampa Bay Times. In a press conference Tuesday, St. Petersburg Mayor Ken Welch warned that the tower cranes could not be dismantled in time for the storm. #Multifamily #HurricaneMilton
Crane at St. Petersburg condo site collapses during hurricane
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Why apartment operators are eliminating assistant managers:
Assistant managers move off-site amid centralization push
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