Chicago firms Harrison Street and Core Spaces plan to invest $1.5 billion in developing and buying rental homes throughout the country.
After a blistering year, the housing market shows no sign of retreat entering 2022.
Government-sponsored housing finance giant Freddie Mac is returning to the commercial mortgage-backed securities market as strong fundamentals push apartment deals to record-breaking levels.
Multifamily property sales surged in the second half of 2021 and accounted for more than $1 out of every $3 spent in the fourth quarter, according to preliminary CoStar data.
A pair of multifamily sales totaling $30 million on Chic ago’s South Side and its western suburb of Clarendon Hills reflect investors’ growing appetite for apartments, a stark contrast to the city’s pandemic-battered office market.
While it’s true that real estate is generally one of the most reliable markets for investment, it’s also a fact that the industry runs on cycles. The COVID-19 pandemic accelerated and even upended many of those cycles. Even now, nearly two years after it took hold in the United States, the pandemic continues to have a see-saw effect on markets.