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Kennedy Wilson and Jamison announced a partnership to develop 4,000 affordable homes in Los Angeles through adaptive reuse and new construction. The first project is the conversion of the former World Trade Center, which will provide 512 affordable apartments.
After selling its management business to Greystar in 2020, Alliance Residential focused on development and ranked high on the NMHC developer list. Recently, the company has aggressively returned to the acquisition market, purchasing more than 2,000 apartment units across several states within a few months. Its acquisition head details target asset types, transaction competition, acquisition opportunities for new developments, and development prospects.
A late-June Morningstar report shows that Houston's Steeples Apartments entered special servicing because the borrower failed to implement cash management required by the servicer, with its DSCR declining from 1.85x at issuance to 1.31x by the end of 2025. Meanwhile, a four-property portfolio in Hoover, Alabama, and Greenville, South Carolina, entered special servicing due to default, and Houston's The Park At Saronno was transferred due to payment default. Philadelphia's Independence Lofts may have its loan reinstated following a new appraisal, and properties under Sonder in New York entered servicing due to bankruptcy.
Starwood Capital Group announced on July 1 that its latest opportunistic real estate fund, Starwood Distressed Opportunity Fund XIII, has completed its final closing with capital commitments exceeding $10.2 billion. The fund will focus on residential, data center, industrial, and hotel assets in the United States, Europe, and the Asia-Pacific region. To date, Starwood has committed over $3 billion in equity to the fund and has completed or signed 20 transactions. The company's total assets under management have subsequently increased to approximately $130 billion.
Brad Korman, Co-CEO of Korman Communities, recently sat down for an exclusive interview with industry media, sharing insights into the family business's operating philosophy, project site selection logic, and his outlook on the U.S. multifamily housing market. He believes that as young people seek mobility and empty nesters pursue convenience, choosing to rent is becoming a mainstream trend.
Hillpointe, a real estate firm based in Winter Park, Florida, announced the promotion of three leaders to vice president positions: Amanda Sistrand (corporate and event marketing), Jessica Gooden (property, marketing, startup and pre-leasing operations), and Tyler Garner (brand and creative). The promotions were announced in a press release shared with Multifamily Dive and highlight the trio's contributions to the firm's growth.
The multifamily market faces multiple pressures, including slowing rent growth, rising investor expectations, and team burnout. Leading operators are leveraging native AI and agentic orchestration to move from task automation to business performance improvement across leasing, maintenance, and finance. Cat Allday, Vice President of Product at AppFolio, points out that AI does not replace human workers but absorbs the coordination layer, allowing teams to focus on high-judgment work. Data shows that after deploying Realm-X, vacant units are filled an average of 5.2 days earlier.
A report from MSCI Real Assets shows that apartment sales in May increased 34% year-over-year to $13.5 billion, but prices fell for the eighth consecutive month, with the annualized decline widening. The Veris Residential privatization deal was completed, becoming the first multi-billion-dollar entity-level transaction since 2024, driving a 311% surge in portfolio and entity sales, while single-asset sales fell 14%. The market faces interest rate pressures, and some owners such as Morgan Properties continue to hold long-term strategies.
Elme Communities' liquidation plan encountered an obstacle on June 17, when the Beitel Group subsidiary terminated the agreement to acquire Riverside Apartments for $280 million. The company has restarted the sale of this property and continues to proceed with the sale of three other assets, but some transactions still face uncertainty.
The collapse of Champlain Towers South five years ago exposed the blind spots of periodic inspections. The author, Greg Batista, argues that as technology costs decline and regulations evolve, continuous structural monitoring will become the new standard for building safety, helping engineers shift from reactive to proactive prevention.