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Michigan Governor Gretchen Whitmer signed two bills last month amending the state building code to allow more multi-family buildings to use single-stair designs. One bill raises the allowable height for single-stair buildings from three to four stories, while the other permits single-stair buildings up to six stories in areas served by certified fire departments. The state says this is expected to reduce construction costs by over 10% and increase housing type diversity. The reform comes as seven states have passed similar measures in 2025, though fire departments remain divided on single-stair safety.
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.
Former tenant Jacob Keller has filed a class action lawsuit against UDR in San Diego, alleging that the company used RealPage's algorithmic devices to set rents, violating local regulations that prohibit using non-public competitor data for pricing. The plaintiff seeks injunctive relief, damages, and civil penalties of up to $1,000 per violation. UDR has also been previously involved in related antitrust litigation in Washington, D.C.
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.
Camden Property Trust announced that co-founder Keith Oden will retire from his executive position on August 31 but will remain on the board of directors. This move is the final phase of the company's multi-year succession plan. Oden has worked with Chairman Ric Campo since 1981 to build the company into a REIT that has been named to Fortune's Best Employers list for 19 consecutive years.
Since 2022, antitrust lawsuits against algorithmic rent pricing tools have surged, involving RealPage, Yardi, and several multifamily housing giants in disputes, with some cases settled or consolidated, and industry uncertainty persisting.
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.
In the second half of 2026, sentiment in the multifamily industry is shifting from widespread pessimism to 'cautious optimism.' On the Berkadia podcast 'Inside the Deal,' Ernie Katai, Executive Vice President of Production at Berkadia, and economist Jay Parsons delve into the real picture of interest rates, supply, rental demand, and capital markets. Parsons summarizes the current environment with three words: 'volatile,' 'tenant's market,' and 'resilience,' noting that the core issue is not insufficient demand but the absorption of a historic wave of supply. As deliveries decline and effective rents improve, the path to market recovery is becoming clearer, but operations still rely on meticulous execution at the project level.