Freddie Mac: Mortgage rates continue to rise, but remain below 2018 levels

Freddie Mac | April 18, 2019

Mortgage rates rose for the third consecutive week without regaining the level they were at before a late March plunge, but rates are still well below where they were a year ago. The average U.S. rate for a 30-year fixed mortgage is 4.17% this week, according to the latest Freddie Mac Primary Mortgage Market Survey. That’s up 5 basis points from last week’s 4.12%. On March 28, Freddie Mac announced mortgage rates had plunged by the most in over a decade.

Spotlight

Jones Lang LaSalle is the first major commercial brokerage firm to move to downtown Las Vegas. Dean Kaufman explains the reason for the move.

Spotlight

Jones Lang LaSalle is the first major commercial brokerage firm to move to downtown Las Vegas. Dean Kaufman explains the reason for the move.

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REAL ESTATE INVESTMENT

Tempus Realty Partners Acquires 15 property Industrial Portfolio for $39.2M

Tempus Realty | June 18, 2022

Tempus Realty Partners, an Arkansas-based real estate investment partnership, announced the purchase of an industrial portfolio totaling 15 properties across eight states in some of the most competitive markets in the U.S. Total purchase price was $39.2 million. The 458,297-square-foot portfolio includes 15 facilities located in Alabama, Michigan, Arizona, Georgia, Nevada, Ohio, South Carolina and Texas. Each facility in the transaction is fully occupied by W.W. Williams, an industrial distribution repair and service company. We're really excited to have a collection of industrial properties in great locations with the opportunity for our team to add value over time. Additionally, we're pleased to offer our partners this opportunity to invest in a collection of high- quality properties occupied by a well-respected tenant." Dan Andrews, Tempus Realty Partners CEO W.W. Williams, founded in Columbus, Ohio, is one of the largest and most diversified industrial distribution repair and service companies in the United States. The company will remain a long-term tenant across each of the 15 facilities purchased by Tempus. About Tempus Realty Partners Tempus Realty Partners is an Arkansas-based real estate investment partnership focused on acquiring and developing commercial real estate mainly in the South and Midwest. The strategy of Tempus is to create superior risk adjusted returns via unique commercial real estate opportunities by investing with its network of partners in targeted cities. The General Partners of Tempus include Dan Andrews, Kevin Huchingson, Mark Saviers and Isaac Smith.

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REAL ESTATE INVESTMENT

Storage Post Self Storage Adds New Property in Manhattan's East Village

Storage Post | February 23, 2022

Storage Post Self Storage added a 92,470 square foot self-storage property to its brand and business structure. The multi-story facility is located in heart of Alphabet City in lower Manhattan's East Village. Storage Post Self Storage now acts as third-party management of the storage facility at 444 East 10th Street. The self-storage building offers a broad range of storage units, from small 4' x 4' x 4' locker storage units to extra-large 20' x 22' full sized storage units, and features a large multi-bay interior loading area. Storage Post and its experienced management team will incorporate the asset into Storage Post's robust and transformative operating platform and advanced sales and marketing strategies, and will leverage Storage Post's strong brand presence within the New York City MSA. This is an exciting time for Storage Post as we bring new locations into our brand. As a team, both in the field and at the corporate office, we are working toward optimal property performance and expanding our consumer markets, We feel we can deliver tremendous value to the ownership group with our multi-faceted operating system." Dylan Delaune, Storage Post Chief Operating Officer. The self-storage industry is in a great place right now with increasing occupancy and strong demand, not to mention great investing opportunities. Many storage companies are expanding and buying properties. We expect to add many more locations in 2022 to bring the Storage Post name to more regions and increase our market share." Storage Post's director of acquisitions, Jack Giannola. Storage Post-East Village is one of many properties Storage Post will add in 2022 as the company moves forward with its aggressive acquisitions and growth strategies. Storage Post is actively pursuing self-storage real estate in dense submarkets and either single or portfolio transactions. The company also selectively considers self-storage management opportunities for owners seeking increased operational value and investment returns.

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REAL ESTATE TECHNOLOGY

Thompson Thrift Residential to Develop 336-Unit Luxury Multifamily Community Near Boulder, Colorado

Thompson Thrift | February 25, 2022

Indianapolis-based Thompson Thrift Residential, one of the nation's leading multifamily developers, announced today the development of Notch66, a 336-unit multifamily community in the Boulder suburb of Longmont. Equity for the development was provided from Watermark 2021 Development Fund III, LP. Construction is expected to be completed by the first quarter of 2024. Longmont was recently named the country's top 'Boomtown' and the Boulder area is home to dozens of the country's fastest growing private companies, Low unemployment rates, strong population growth and a highly educated workforce have contributed to a competitive housing market, and we expect Notch66 will provide an appealing rental option for residents desiring the style, luxury and convenience that Thompson Thrift communities feature." Josh Purvis, managing partner for Thompson Thrift Residential. Sitting on 18.4 acres at 2514 Main Street and Ute Highway, Notch66 will consist of 336 one-, two- and three-bedroom garden style apartment homes. Each apartment home will include many of the quality features Thompson Thrift Residential communities offer including elegant quartz countertops, stainless steel appliances, tile backsplashes, large walk-in closets, hardwood-style flooring, full-size washers and dryers, and more. Some apartments will also include detached garages and private yards. Additionally, residents will enjoy many community amenities including a clubhouse with stylish spaces for entertaining, 24-hour fully equipped fitness centers, resort-style heated swimming pools, community-wide WiFi and a dog park. Conveniently located on Longmont's north side, Notch66 is minutes from downtown Longmont and provides an easy commute to both Boulder and Denver. Known as "the Silicon Valley of the Rockies", the Boulder metro has experienced robust job growth over the last decade. Area expansion is expected to continue well into the future, with a number of life science companies searching for a total of 1.6 million square feet of space in the Denver-Boulder area. Notch66 is the second Thompson Thrift Residential community located in Longmont and the thirteenth community in Colorado. Thompson Thrift is a full-service real estate company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Throughout its history, the company has invested more than $3.15 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive projects. About Thompson Thrift Real Estate Company Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale multifamily communities and luxury leased homes, Thompson Thrift Retail Group which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve.

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