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The newly built apartment property is located in Frisco, Texas – a hot multifamily market.
'There's a reset in the real estate markets,' says Lee Menifee, head of Americas.
The city has seen many multifamily deals in recent months, but concerns remain around affordability.
A surprise Federal Reserve rate hike and subsequent rhetoric from the country’s central bank threatens to slow down a red-hot market.
The deal backs 3650’s forecast that there will be long-term demand for short-occupancy rental units in South Florida.
JLL Capital Markets arranged the financing for 360 Huguenot, which boasts 250 residential units, as well as 3,538 square feet of Class A retail space.
The firm hired Perry Boyle to boost fundraising as it launches a $100m fund.
Respondents see a remarkable revival for the asset class, despite economic and geopolitical headwinds.
The report from analytics firm MSCI and its Real Capital Analytics group also zeroes in on a shift toward niche sectors.
The firm saw its roster of institutional investors spike in its second affordable housing fund.