After many years of flat rental growth (even negative in 2012), single family rentals experienced strong growth for all of 2015, experiencing year-over-year gains of between 2.2% and 5.5% on a monthly basis, measured with average price per square-foot. Marketing times for single family rentals have also been historically low with median days on market dropping to 13 days in the Summer of 2015 and finishing the seasonally weaker December at 26 days, far below the historical peaks of over 40 days.Figure 1: Average Pr... read more
Hospitality Cosmopolitan $1,730,000,000 1,000,807 sq.ft 2,995 room hotel and casino Purchased by Blackstone Group from Deutsche Bank
Downtown Summerlin Fashion, dining and entertainment 1.6 million sq.ft Shopping opened 2014 Multifamily, hotel
The Linq The Linq Promenade includes dining, shopping and entertainment, with a 550-foot observation wheel Hotel is 2,640 rooms Casino is 118,000 sq.ft The observation wheel, called the High Roller, opened in March 2014
Grand Bazaar... read more
We are now in the third quarter and therefore within a reporting cycle that summarizes recent trends. One such report is our Las Vegas Residential Investor IQ report, for the summer season, which examines the single family rental market.
This report features:
Vacancy and time on market trends
Factors that influence investments such as lender owned inventory, default activity, age of inventory and seasonal patterns.
Real estate investment terms and concep... read more
We first described the single family rental business as an opportunity back in late 2009, when homes could be acquired at trustee sales with enough velocity to make sense. In our 2011 annual report, we also described how the business could make sense. Since that time, many more buyers have become active in the Las Vegas market, many of which are backed by private equity. Further, these firms are likely to achieve some economies of scale and are taking a mixed approach to the underwriting with a view towards cash fl... read more