@BlockRes #CRE Deal of the Week - Ranch at Pinnacle Point

Grant Reves, Aaron Mesmer, Brian Beggs and Ken Block of Block Real Estate Services, LLC

(BRES) closed on the sale of Ranch at Pinnacle Point in Arkansas.

Renting is the New Buying: The Multifamily Demand

Construction activity has returned to pre-recession levels and is surging in the multifamily market. Fueled by the recession, the demand in this market has risen. However, the facilities being built today have a completely different flare than pre-recession developments.

Block Multifamily Group 2014 Overview

The executive team at Block Multifamily Group (BMG) has over 35 years of experience in the operation of multifamily assets and provides the “ground-level look” at all facets of multifamily.

Block Multifamily Partners with Balfour to Deliver Solutions

Two heads are better than one...and sometimes two companies are better than one.

Block Multifamily Group (BMG) and Balfour Beatty Communities have partnered to jointly pursue property management opportunities for HUD, Low Income Housing Tax Credit (LIHTC) and other Public Housing Authority projects. Learn the basics of LIHTC here.  

Multifamily Remains Ripe For Investment

Leaders at the National Multi-Housing Council (NMHC) discuss the year to come.  Block Funds makes first apartment purchase; seeks to acquire 1,500 units in 2013.

Leaders in the apartment business from across the United States and Canada met last week in Palm Springs, California to discuss the state of the industry and economy as well as trends in apartment operations, development and investment. The meeting included a conversation with Earvin “Magic” Johnson about his experience as an entrepreneur in many urban communities. When asked about his approach, Johnson said, “You prepare so much when you are an athlete. I took preparation from basketball into the board room.”

Another highlight of the meeting included a discussion between NMHC Chairman Tom Bozzuto, Senator Alan Simpson and Erskine Bowles, former co-chairs of the National Commission on Fiscal Responsibility and Reform. The pair pointed to five major causes of the US debt crisis, including healthcare, defense, social security, an inefficient tax code and compounding interest on existing debt. Bowles called the issue “the most avoidable economic crisis in history,” but pointed out that, “the problem is real and the solutions are painful.”

BRES Breaks Through The Barriers: Block Multifamily Group

As Real Estate begins to emerge out of a tumultuous economic downturn, individuals seeking housing are less willing to buy and commit themselves to purchasing a house. Also, baby boomers are retiring out of the workforce, seeking condos and senior apartment living. While office, industrial and retail sometimes struggle with a weaker demand, a strong fundamental recovery in rental housing demand has propelled apartments to a broad recovery in occupancy, rental rates and investor pricing.

According to the Block Real Estate 2012 Market Report, “With more than 3 million foreclosures since 2009, profound shifts in demographic, economic and social patterns have changed the way many Americans, particularly those of the millennial generation, feel about home ownership. This, combined with the entry of the first wave of ‘echo boomers’ graduating from college, has resulted in the addition of an estimated 1.4 million renter households.” (Read more from the 2012 Multi-Family blog post).