Mar
16

National Multifamily Investment Market May Have Turned a Corner In 2009

By
– CCIM Institute

The national multifamily investment market may have turned a corner in 2009, at least in terms of investor demand. Dollar volume of the sector’s closed transactions hit an all-time low of $2.06 billion in the first quarter of 2009 but ticked up to approximately $3 billion or more in the remaining quarters of the year, according to Real Capital Analytics, a New York-based research firm.

Anecdotal evidence suggests that volume will climb in 2010 as a groundswell of bidding activity begins to result in completed transactions. Although distressed assets are catching headlines and offer lower prices, brokers say investors are competing for high-quality multifamily properties with low vacancy rates. That suggests that pricing is bottoming out, says Dan Fasulo, RCA’s managing director.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://ciremagazine.com/article.php?article_id=1494
Be Sociable, Share!
    Categories : National News

    Comments are closed.