MCLEAN, VA – How does investing in Multifamily properties today compare to past quarters? Is it a favorable time to invest in Multifamily properties? The New Freddie Mac Multifamily Apartment Investment Market Index is a free online analysis tool that combines key multifamily-specific economic indicators to spot trends and provide insight into investment conditions in select major metros and nationally over time.

“It is vital that investors and other industry stakeholders stay on top of the shifting multifamily investment environment with the latest trend analysis and market insight that AIMI provides,” said Steven Guggenmos, vice president of Freddie Mac Multifamily Research and Modeling.

Updated quarterly, AIMI describes how the relative value of investing in multifamily properties changes over time by combining three factors vital to market observers and investors — rental income, multifamily property price growth and multifamily mortgage rates — to make a view of investment conditions in certain markets and nationally.

The relative value of investing is estimated by comparing the growth in net operating income (NOI) to the growth in property debt service. Mortgage rates and growth rates in property prices are used to determine changes in the debt service, while rental income growth (which includes changes in rent growth and vacancies) is used to determine changes in NOI.

AIMI also features commentary on the national market and on each of the 13 metros it tracks. Insights could include how the three variables are impacting the markets, a summary of current values and trends, and macroeconomic factors such as employment growth and housing construction.

Guggenmos added, “Together with our internal analysis, AIMI offers investors a unique insight into understanding the multifamily investment landscape. AIMI gives investors an opportunity to combine a few of the market drivers and track trends.”

When comparing AIMI’s values over two quarters for a specific metro, an increase implies the value of investing was more favorable, while a decrease implies a less favorable investment.

For example, since AIMI’s current value for Atlanta is 111 and previously was 131 during the first quarter of 2011, then the relative value of investing in Atlanta’s multifamily properties is less favorable now than it was in the first quarter of 2011.

Nationally, AIMI is at 107 as of the fourth quarter of 2015. The national index has been trending down over the past several quarters due to the increase in property values exceeding the growth in NOI, while mortgage rates remained relatively flat. The cost of investing has become more expensive, indicating it may be more hard to find attractive investment opportunities in the market.

AIMI also provides a sensitivity table that shows how the Index value changes based on changes in the underlying variables.

The 13 metro areas AIMI tracks are: Atlanta, Austin, Chicago, Dallas, District of Columbia, Houston, Los Angeles, New York, Orlando, Philadelphia, Phoenix, San Francisco and Seattle.

Powered by WPeMatico

SUFFOLK, VA – The Bainbridge Companies want to announce the opening of Bainbridge 3200 Apartments, located in the heart of the Harbourview area of Suffolk, Virginia. This 228-unit multifamily development opened its first building in March and is expected to be completed by August 2016.

Suffolk has a long, rich history within the Hampton Roads MSA of Virginia. “The City of Suffolk government and plotting staff have done a tremendous job driving economic growth in North Suffolk by putting into place smart development policies and maintaining a long-term vision for the area. As a result, the area is seeing a strong influx of diversified retail, institutional office, medical, and restaurant developments making Suffolk a very desirable place to live and work,” says Charles Persons, developer for The Bainbridge Companies and a native of Suffolk.

Bainbridge 3200 Apartments is one of the premier places to live in the Hampton Roads area with its close proximity shopping centers, dining, highways, and employment drivers of Downtown Norfolk, Huntington Ingalls Shipyard, the Port of Virginia, and the region’s numerous military installations.

“Bainbridge is focused on improving the quality of life for residents in all of our communities through thoughtful design with high-end amenities and added services” said Ginger Ackiss, Senior Director of Development for Bainbridge. “Bainbridge 3200 offers unparalleled finishes in the market and an exciting lifestyle within a walkable community.”

These luxury 1, 2 & 3 bedroom apartments have all the first-class features synonymous with The Bainbridge Companies; high ceilings, open floor plans with wood-style flooring throughout the living areas, walk-in bedroom closets, and luxurious kitchens complete with islands, granite countertops, and top of the line appliances. Added benefits for residents are the 5 by 5 foot walk-in showers with dual shower heads.

Residents will also delight in the state of the art fitness center complete with TRX strength system, commercial gym-quality cardio equipment with built-in televisions, and yoga room. Outside, options include lounging at the resort-style pool with cabanas, grilling out poolside, or relaxing by the outdoor fireplace and watching a football game. Pets are welcome at Bainbridge 3200, which features a spacious dog park with a Fido fountain.

Bainbridge 3200 also has a large, tastefully decorated clubhouse with 70-inch screen TV’s to stream movies and video games, a sports bar-style entertainment wall to view multiple games at once, a retro arcade machine, and a business center with 27-inch all-in one machines.

Powered by WPeMatico

FORT WORTH, TX – Downtown Fort Worth, Inc. has released its 2015 State of Downtown Report, a yearly publication that offers in-depth analysis of Downtown’s primary real estate performance indicators and economic, social and education data.

According to data from the report, Downtown has maintained a 91.9% average retail occupancy rate and experienced an 89.9% increase in clothing store sales since 2006.  Findings from the report also indicate a growing demand for Downtown housing. Apartment occupancy remained above 96.5% for the year. Investment in Downtown housing is expanding, currently 2,532 residential units are plotted or under construction which is a 73% increase in downtown housing inventory.

Downtown Fort Worth is the largest employment center in Tarrant County, generating over $3 billion in payroll with more than 48,150 total jobs.

“The State of Downtown in 2014 illustrated that performance in retail, hospitality, multifamily and condominiums continued positive trends.  High occupancies and increasing prices suggested fertile ground for new development and we saw that development take root in 2015,” said DFWI Researcher, Arrie Mitchell.

“Demand for downtown real estate is expanding in all sectors,” said Jack Clark, President at Red Oak Realty and DFWI Chairman.  “In the pipeline we have 14 residential developments, 3 hotel developments, 56,000 square feet of new retail and a 25 tale tower bringing 304,000 square feet of office and retail space.  It’s an exciting time to be a part of Downtown.”    

The State of Downtown is produced by Downtown Fort Worth, Inc. (DFWI) and Fort Worth Public Improvement District #1 (PID) to help communicate the underlying economic trends shaping our center city.  The data is compiled throughout the year by Arrie Mitchell, DFWI’s Director of Research.    

To download the 2015 State of Downtown report, visit www.dfwi.org

Powered by WPeMatico