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🚀 RenoQuest Launches Pilot for Sustainable Renovation Management
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📈 Data Point
Top Multifamily Brokerage Firms in 2024
A new report from Multi-Housing News ranks the top multifamily brokerage firms by investment sales volume. CBRE leads the pack, followed by Newmark and Cushman & Wakefield. These firms closed billions in sales, showing continued confidence in multifamily assets despite market fluctuations.
🧭 Market Watch
Western Massachusetts Is Seeing Renewed Interest
A stone foundation multifamily property from 1900 recently hit the market in Massachusetts, reflecting new investor focus on older, value-add buildings. This 13-unit property includes on-site laundry, a corner lot location, and proximity to amenities. These kinds of assets are attracting buyers looking for long-term holds with renovation upside.
🧾 Rule of the Day
Rent Concessions
Rent concessions are temporary discounts or incentives offered by landlords to attract or retain tenants. These may include a free month of rent, waived fees, or reduced deposits. While concessions lower short-term income, they can improve occupancy during lease-ups or market slowdowns.
🌱 Green Build
RenoQuest Launches Pilot for Sustainable Renovation Management
RenoQuest is offering U.S. multifamily operators free access to its new renovation management platform. The goal is to streamline renovation workflows while reducing waste and energy usage. By testing in live properties, RenoQuest aims to help managers adopt more sustainable upgrades without disrupting tenant living conditions. Know more.
🏘 Deal Radar
Lakewood, CO Consisting of 48 units and 100 parking spaces, this multifamily property is located just eight miles west of downtown Denver. Due to zoning regulations, vacancy rates remain low. | Des Moines, IA This 36 unit property, built in 1996, can fetch an average rent of $865 per property. It is also proximal to dining and entertainment options. | Idaho Falls, ID This multifamily property located in suburban Idaho offers excellent opportunity for growth. It consists of 220 units at an average occupancy rate of 95%. |
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