Capital
Camden Property Trust posted a slight earnings increase in the second quarter of 2026 after selling its entire California portfolio, continuing its strategic focus on Sun Belt markets.
In late July, several Texas apartment loans were transferred to special servicing. Morningstar reports show some property valuations were downgraded, and a property in Brooklyn, New York also faces challenges.
On its July 30 earnings call, MAA said the Sun Belt markets are experiencing a broad recovery, but at a slower pace than expected. The company lowered its full-year revenue, effective rent, and occupancy forecasts, but maintained its core FFO outlook through expense control. Management expects blended lease pricing in the third quarter to improve from the second quarter, breaking the seasonal pattern of the past four years.
Tishman Speyer recently acquired the Berkshire Dilworth apartment community in Charlotte, North Carolina, from Berkshire Residential, comprising 296 units, for an undisclosed price. Built in 2016 with a 97% occupancy rate, this is the seventh residential acquisition by the TS Plus fund.
Essex Property Trust's Q2 core FFO was $4.08 per share, higher than J.P. Morgan and Bloomberg expectations, benefiting from its West Coast portfolio. The company raised its full-year guidance, but NOI growth was slightly below expectations. Northern California and Seattle performed strongly, while Southern California saw a moderate recovery.
Neology Group announced on July 28 the completion of a $175 million first round of financing, bringing its total transaction capacity to nearly $1 billion. Founder and CEO Lissette Calderon stated that this financing is a recognition of the company's past performance and future strategy, and will support the company in undertaking larger-scale projects while continuing to deepen its presence in the Florida and southeastern markets.
The Federal Reserve announced after its two-day meeting concluding on Wednesday that it would hold the benchmark rate in the 3.5%-3.75% range, but the vote was 9-3, with three regional Fed presidents advocating for a 25-basis-point rate hike. Chair Warsh stated that internal debate helps formulate the right policy and emphasized the central bank's commitment to achieving price stability.
UDR released Q2 earnings, beating expectations and raising full-year guidance, while announcing termination of debt and preferred stock programs. Industry fundamentals improve, with reduced supply and job growth supporting rent performance.
In an interview, CONTI Capital CEO Carlos Vaz revealed that its apartment portfolio shrank from 14,000 units in 2020 to about 3,000 units, actively selling at market peaks. Currently, new project prices in markets like Austin, Texas are 30%-40% below replacement costs, but negative rent growth pressures holding-period cash flow. Dallas and Houston are relatively optimistic, while Austin is the slowest to recover. He also discussed operational costs such as interest rates, oversupply, property taxes, and insurance.
After a transaction termination in June, Elme Communities quickly reached a new agreement with FPA Multifamily to sell its last major property for $250 million, with the transaction expected to close no later than September 14, 2026.