Amherst Holdings LLC, which owns or manages about 20,000 single-family rentals, is launching a subsidiary to purchase, renovate and resell properties, combining the home-flipping business with new features to simplify the consumer experience of...
The national occupancy rate dropped to 81.7 percent during the months of April to June, a 79 basis point drop from the quarter before, according to a quarterly report from the NIC.
Montage, which launched in 2002 with a resort in Laguna Beach, California, currently operates eight hotels and generated $400 million in revenue last year.
Chief Executive Officer Jon Bortz said he remained bullish on the West coast and that the additional asset sales would probably increase Pebblebrook’s concentration in the market, meaning the sales would come from other regions.
Investors have historically demanded higher yields—and lower prices—for student housing properties compared to apartment properties overall.
Overall, CBRE pegs the overall development pipeline as containing 474 MW of capacity in the primary U.S. markets, nearly 55 percent of which is preleased.