OAK BROOK, IL – Inland Real Estate Acquisitions announced that it facilitated the acquisition of The Preserve at the Meadows, a 220-unit multifamily property located in Fort Collins, Colorado. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate.

Located at 350 Riva Ridge in Fort Collins, The Preserve at the Meadows consists of 10 buildings containing 68 one-bedroom, 134 two-bedroom and 18 three-bedroom units. Each unit includes stainless steel appliances, a full size washer and dryer, storage areas, nine-foot ceilings and, in select units, a gas fireplace and walk-in closet.

The property also features a heated swimming pool, hot tub, playground, club house, business center, fitness center, a picnic area and mountain views. The Preserve at the Meadows is also within walking distance to the Spring Creek Bike Trail, a paved off-road route that travels more than seven miles across Fort Collins.

“We are pleased to have closed on this high quality multifamily property that’s located with fantastic proximity to shopping and Colorado State University,” said Tice. “The Preserve at the Meadows is Inland’s third multifamily property in Fort Collins, we’re very pleased with the market due to its strong occupancy rate, access to fantastic schools and proximity to major employees.”

As of the acquisition date, the property was 96 percent leased.

To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $43 billion of buys including retail centers, apartments and single-tenant properties.

Powered by WPeMatico

SEATTLE, WA – The U.S. housing market accelerated to its fastest pace on record in May, according to Redfin, the next-generation real estate brokerage. The typical home went under contract in 42 days, a full week quicker than a year earlier, and the lowest median days on market reported since Redfin started tracking this metric in 2009.

“After nearly a decade of undersupplied housing stock, competition is fierce,” said Redfin chief economist Nela Richardson. “What’s new in 2016 is that we’re seeing the intensity of quick sales and bidding wars even in affordable markets like Grand Rapids and Omaha, where the typical home sold within two weeks last month.”

In May, home prices increased a moderate 4.3 percent year over year, down from the 4.8 percent growth rate posted in April. A shift in housing activity from expensive coastal markets toward affordable ones in the middle of the country helped keep a lid on price growth.

Sales surged 7 percent and inventory fell 6.6 percent in May from last year. The pickup in sales was widespread, as nearly a third of the markets Redfin tracks reported growth in the double digits. Affordable markets in the Midwest and the South led the surge in sales.

In Michigan, Detroit and Grand Rapids saw the number of homes sold surge by more than 50 percent from last year.

“We’re seeing an influx of buyers from places like San Francisco, Southern California, Seattle and Washington, D.C. Most new residents are lured by tech jobs and opportunities to work remotely,” said local Redfin agent Kent Selders. “Locals are watching prices rise, and many realize if they don’t buy soon, they’ll miss out while homes are still affordable. The result is incredible demand and rapid sales. Nothing like this has ever happened in Grand Rapids.”

Mortgage rates, which reached three-year lows this spring, are also making an impact on buyers.

“Go-up buyers have specifically noted they are buying now to take advantage of still-low mortgage rates,” said William Porterfield, a Redfin agent in Small Rock, Arkansas, where sales increased 33 percent from a year ago. “They’re focused on buying as much house as possible while interest rates are so low.”

To read the full report, complete with data and charts, visit Redfin.com 

Powered by WPeMatico

LUBBOCK, TX – Haven Campus Communities is pleased to announce a 556-bed, 140-unit luxury student housing community at Texas Tech University in Lubbock, TX. This will be the second project in Lubbock for Haven, with the original project, 18NINETEEN, set to open in Fall 2016.

The project is located in the highly desirable Overton district directly adjacent to Texas Tech and is scheduled to open in Fall 2017. Students will have walkability to the most well loved restaurants, bars, and shops in Lubbock. This proximity conveniently allows students immediate access to the TTU campus located just over half a mile away.

“We are pleased to expand our presence in the Texas Tech market,” said Jay Williams, Haven Campus Communities President and Co-founder. “Our plot aligns directly with Haven’s development commitment to quality and safety, walkability to campus, along with our focus on innovation and technology. I am confident that this community will be another fantastic addition to Lubbock and will meet the needs of the growing number of students at Texas Tech University.”

The project will be the only student housing community in Lubbock to offer an exclusive rooftop deck with a city view. The property will also feature a full slate of amenities including a cyber-lounge with charging stations, coffee bar, fitness center with On-Demand classes, tanning rooms, game room, computer center with private study rooms featuring Smart TVs, and professional on-site management. The pool area will include a large pavilion area with TVs, sun deck, large tanning deck, cabanas and built-in grilling stations. The property will also feature multiple gathering areas with built-in seating, bocce and horseshoes, fire pits, and an open courtyard.

The community will offer fully furnished two-bedroom and four-bedroom plans. Each will include a fully-equipped kitchen, large flat screen TVs, full-size washers and dryers, trundle beds with pillow top mattresses, and private bathrooms for each bedroom. Residents will delight in all-inclusive rental packages including electricity, water, cable and internet. Thanks to dynamic internet service through the project’s own on-site managed network, residents will experience blazing speeds via wired and wireless service covering the entire property.

 “We look forward to continuing a successful relationship with the students, the university, and the surrounding community,” said Jay Williams.

Powered by WPeMatico