NEW YORK, NY – Hunt Real Estate Capital announced it has closed three Fannie Mae multifamily conventional loans totaling $45.5 million for three Southeast properties with a total of 620 units.
“The borrower, EBSCO Income Properties, LLC, wanted to obtain advantageous, long-term debt on each of the properties and place them in a favorable position for the foreseeable future,” said Chad Hagwood, senior managing director and southeast regional manager with Hunt Real Estate Capital. “By closing three 12-year loans with low, fixed rates and four years of interest only, our team was able to provide an ideal solution for our client.”
Tapestry on Vaughn, located in Montgomery, Alabama, is a garden-style multifamily community built in 1994. Trilliam Luxury Apartment Homes, in Clanton, Alabama, is an affordable housing community built in 2002. Located in Macon, Georgia, Pavilion at Plantation Way is a mid-rise apartment property built in 2009.
“It was a pleasure working with Chad Hagwood and Hunt Real Estate Capital’s Birmingham team to process and close three heavily-structured refinances,” stated Leslie Yeilding, president and general manager of EBSCO Income Properties, LLC. “Chad’s team was able to deliver a stellar outcome, completing the loan process in just 22 days from application signing to funding during the COVID-19 pandemic.”
“With such a tight schedule, there was no time for missteps, and it is times like these where experience means everything,” Hagwood added. “The team at Hunt was able to seamlessly do the process from start to end, resulting in a very satisfied client and deals closed exactly as they were place under application despite the turmoil in the market.”

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SEATTLE, WA – Skyrocketing unemployment across the U.S. has prompted millions of adults to go back in with their parents. A new Zillow analysis shows potential rent lost from Gen Z alone could total an estimated $726 million, and the ripple effects of their next go could have far-reaching consequences for the housing market.
The number of adults living in a parent’s or grandparent’s home grew by more than 2.7 million in March and Aprili, nearly triple the next-largest two-month increase from the past five years. A large majority of those who went home — about 2.2 million — are from Generation Z, and between 18 and 25 years ancient.
Those 2.2 million Gen Zers represent an estimated $726 million in rent payments each month — payments that could be lost if these moves prove to be more than a temporary measure. That represents about 1.4% of the rental market at risk. It is highly unlikely that all leases will be broken and this full amount would go unpaid, but it serves as a gauge of the potential impact on housing.
The next go this population makes could shape the housing market’s near future. If jobs quickly return to pre-pandemic levels, the housing status quo could return just as quickly as these renters return to the market. But if jobs are permanently lost or slower to recover than expected, that could free up many rental units and drive down prices.
“The share of adults living with their parents has been high since the global financial crisis of the aughts,” said Zillow Senior Principal Economist Skylar Olsen. “Then, it was Millennials flocking to the basements and spare bedrooms of their Baby Boomer parents, where many remained as rent burdens grew. Now, it’s Gen Z’s turn to ride out today’s crisis amid massive unemployment. But this time, rents are more likely to slow, easing the path to returning to living on their own even if some under-employment persists. Apartment construction has exceeded historic norms in recent years and some are likely to double up or live more affordably in all kinds of ways, which should soften rent growth, at least for now.”
Previous Zillow research has shown renters in some industries highly affected by coronavirus-related layoffs were struggling to keep their heads above water even before the pandemic started. It’s possible that many will appreciate the breathing room afforded by living with parents if allowed to stay rent-free, and stay even after their jobs return. That could allow some Gen Zers to save enough to go into homeownership more quickly, or perhaps even delay their parents from downsizing into a smaller home while a child is still living under their roof.
Young Americans go more often in general because they tend to have less stable employment and have not had time to accrue the same level of savings as older counterparts. Many also go home during the summer due to college schedules, typically bumping up the share of young adults living with parents by 2-3 percentage points from April to July.
It is likely that some college students made that go earlier this year as campuses closed due to COVID-19, contributing to the jump seen in April, but there were far more young people living with parents in April than even during a typical summer peak, indicating the usual seasonal shift was super-charged by soaring unemployment. Recently unemployed young people went back home at roughly the same rate as usual — about 60% of them typically live with parents — but the pool is much larger than ever.
Metros with a higher share of young renters have a greater potential for impact. This includes Austin, Kansas City, Cincinnati and Pittsburgh. On the other end are areas with more millennials and older renters, including Miami, New York and Los Angeles, each with less than 1% of the rental market made up of young people who have went home.

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DENVER, CO – ReyLenn Properties announced the opening of Solana Stapleton, a new luxury rental community in the Stapleton submarket of Denver. The community is the first market rate rental community developed by a third party in the master-plotted Stapleton community.
The 280-unit development includes a mix of one, two, and three-bedroom residences, with rental rates starting at $1,549 per month. It is situated within the Stapleton master-plotted community across Peoria from the adjacent Fitzsimons/Anschutz Medical Campus and the Fitzsimons Light Rail Station, just south of Sand Creek and Sand Creek Park.
“Solana Stapleton is perfectly primed to serve the housing needs of the 25,000+ workers and students at the adjacent and growing Fitzsimons/Anschutz Medical Campus, while enjoying the unsurpassed location and amenities offered by the Stapleton community,” said Jason Smith, Partner with ReyLenn Properties. “The community is literally at the three-way convergence of the light rail network with direct links to Downtown Denver, Denver International Airport, and the Denver Tech Center.”
The community will be only the second apartment community at Stapleton to offer extensive on-site amenities. Ever pushing to meet the desires of today’s renters through creative design and the most useful of amenities, ReyLenn has included onsite a saltwater pool, spa, state of the art fitness center with yoga and spin studio, an indoor basketball court, an HD golf and sports simulator, an outdoor beer garden with gaming and a pizza oven, a food truck court, and community gardens. A stand-alone coworking space has also been built into the development, accessible for residents at discounted rates and the surrounding general public as well.
Located on a 9.75-acre total site area, Solana Stapleton also is host to a nearly 12,000 square foot clubhouse, a pet grooming facility, a dog park, bocce ball courts, outdoor pool table, a bike and ski maintenance facility, and more. Apartment interiors offer high end features such as 9′ ceilings throughout, stainless steel appliances, quartz countertops, open floor plans, upscale gas ranges, walk in closets, oversize loft style windows, private balconies or patios, custom European roller shades, and electric vehicle charge-enabled garages. The community has been designed by KTGY architects, Norris Design, and Trio Interiors. The project was built by ReyLenn Construction Company, a Multifamily Executive top 25 builder nationally.
Solana Stapleton is located on one of the last tracts of vacant land on the former Stapleton International Airport site, which is at the end of its 25 year build out, now home to more than 38,000 residents today. The Stapleton location is the fifth to open under the Solana brand, with four already located around the Denver metro area including Cherry Creek, Boulder, Arvada, and Highlands Ranch.
The apartments will be operated under the management of Denver-based Mission Rock Residential, a national property management company formed in 2012 who has seen significant success across the country.
“Today’s renters know exactly what they are looking for in an apartment with regards to what amenities are most engaging, what community events are most valued, and how onsite management can offer effective and professional support. Solana Stapleton is right on the mark and hits every interior and amenity wish list item. As the management team, we look forward to activating these state-of-the-art, unique community amenities and offering Stapleton residents Mission Rock’s signature best-in-class customer service to enrich our residents’ lives week in and week out,” said Patricia Hutchison, President for Mission Rock Residential.

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