Jonathan Borenstein is a national industry leader in
the market multifamily sector, representing some of the largest private multifamily companies in the country.
Not exact matches
The
market for big packages of
multifamily buildings may have less sex appeal than the fancy condos adorning Billionaire's Row, but the
sector is going...
In the report they cover cap rates, going - in cap rates, discount rates, yields, reversion rates and much more but the first thing I look at is their
market cycle chart for the
multifamily sector:
(or see the MHN exec sum here) The paper highlights the role of the GSEs (Government Sponsored Enterprises, i.e. FNMA «Fannie Mae» and FHLMC «Freddie Mac») in today's
multifamily finance
market and presents five recommendations for the future making their points with a set of charts that demonstrate the size of their role in
multifamily as well as the very low amount of bad loans they've made in the
sector.
For example, in the
multifamily sector, top REITs like Camden Property Trust continue to sell large portfolios of properties and trophy assets in primary
markets.
Even as new apartment completions bring more supply to many
markets, the
multifamily sector will still likely see a vacancy rate decline from 6.6 percent to 6.1 percent.
NAR's latest COMMERCIAL REAL ESTATE OUTLOOKoffers projections for four major commercial
sectors and analyzes quarterly data in the office, industrial, retail and
multifamily markets.
Looking at commercial vacancy rates from the third quarter of this year to the third quarter of 2012, NAR forecasts vacancies to decline 0.3 percentage points in the office
sector, 0.6 points in industrial real estate, 0.7 points in the retail
sector, and 0.9 percentage points in the
multifamily rental
market.
Over the past decade as the
multifamily sector has flourished, we have witnessed pronounced rent increases in most major metropolitan
markets across the country.
Kris Cooper, managing director of retail capital
markets at JLL, says investor interest in the retail
sector is increasing, though it's not as hot as the
multifamily or office
sectors.
They may have been willing to venture into secondary
markets for
multifamily acquisitions, reassured by the strong fundamentals in the
multifamily sector, but office buildings and malls had to be located in areas with the best fundamentals.
And
multifamily properties have been the only REIT
sector in which returns have been going up steadily since December according to Coumarianos, and they could have hit a bottom before the rest of the
market.
The platform will seek to capitalize on the compelling
market dynamics in the primarily
multifamily sector created by the growing renter base, strong job growth and limited new supply.
All of the major commercial real estate
sectors are seeing improved fundamentals, but
multifamily housing is becoming a landlord's
market commanding bigger rent increases.
Most of the major commercial real estate
sectors show gradually improving fundamentals and are easily absorbing the relatively small amount of new space that is coming online, with a full recovery already in the
multifamily market, according to the National Association of Realtors ® quarterly commercial real estate forecast.
Bell says it wasn't difficult to drop down to just the general
multifamily market, still the best
sector, with rents increasing for the past three years and vacancy of 5.5 percent at the low end of historical norms — but he says the leading fundamentals weren't his only guide.
Officials attribute the rise in all lending to favorable interest rates, but say the property
market conditions are particularly strong for the
multifamily sector.
The overall growth dynamic in that
market has created a very strong demand, which allows us to realize substantial rent growth, and that translates to the overall economic viability of the
multifamily sector in that particular
market.
Green Street's CPPI is based on estimates of private
market value of REIT portfolios across the
multifamily, office, mall, strip center and industrial
sectors.
NAR's latest Commercial Real Estate Outlook offers overall projections on four major commercial
sectors and analyzes quarterly data in the office, industrial, retail and
multifamily markets.
WASHINGTON (February 25, 2011)- A stabilization trend is taking place in commercial real estate
sectors, but in most
markets rent will remain soft except for
multifamily rentals, according to the National Association of Realtors ®.
NREI: Which
sectors of the commercial /
multifamily real estate
markets do you think will be the big leaders or laggards in 2016?
A stabilization trend is taking place in commercial real estate
sectors, but in most
markets rent will remain soft except for
multifamily rentals, according to the National Association of Realtors ®.
J.J.Smith: Institutional investors, including sovereign wealth funds and pension funds, remain interested in the student housing
sector due to their ability to achieve higher returns than they otherwise would through conventional
multifamily housing — provided they're able to find the right opportunities in the right
markets with operators who understand the nuances of the business.
NAR's latest COMMERCIAL REAL ESTATE OUTLOOK2 offers projections for four major commercial
sectors and analyzes quarterly data in the office, industrial, retail and
multifamily markets.
The overall U.S. housing
market may have had another tepid year of recovery in 2013, but the
multifamily sector's growth remained significant.
The
multifamily market, though, isn't the only
sector thriving in Cincinnati.
In the latest episode of The REIT Report: NAREIT's Weekly Podcast, Britton Costa of Fitch Ratings discussed how developments in the housing and mortgage
markets are affecting the
multifamily REIT
sector.
Let's step back though and analyze some data as I still believe the
multifamily apartment
sector is the strongest segment in the housing
market.
Download (PDF 1.8 MB) NAR's latest Commercial Real Estate Outlook offers overall projections for four major commercial
sectors and analyzes quarterly data in the office, industrial, retail and
multifamily markets.
Ultimately, the
multifamily housing
sector is not calling out for reform the way the single - family housing
market is.
Although private - label CMBS issuances within the
multifamily sector increased by 7 percent, to $ 5.3 billion, in 2017, according to commercial real estate data provider Trepp, that figure is dwarfed by what the government - sponsored enterprises Fannie Mae and Freddie Mac did in that
market.
Additionally, the
multifamily market has benefited from significant capital inflows from abroad, which have been a big part of the
sector's growth story.
The Difference Between
Multifamily and Single - Family Sectors Experts and analysts are urging the government to consider the differences between single - family and multifamily sectors as they build the reforms that will control the housing market for the foreseea
Multifamily and Single - Family
Sectors Experts and analysts are urging the government to consider the differences between single - family and multifamily sectors as they build the reforms that will control the housing market for the foreseeable
Sectors Experts and analysts are urging the government to consider the differences between single - family and
multifamily sectors as they build the reforms that will control the housing market for the foreseea
multifamily sectors as they build the reforms that will control the housing market for the foreseeable
sectors as they build the reforms that will control the housing
market for the foreseeable future.
Even the most pessimistic apartment
market researchers agree that very few apartments were empty in the third quarter and that the vacancy rate in the
multifamily rental
sector will remain low in the short - term.
NAR's most recent Commercial Real Estate
Market Survey revealed the multifamily housing sector is becoming a landlord's market, with vacancy rates below 5 percent justifying higher
Market Survey revealed the
multifamily housing
sector is becoming a landlord's
market, with vacancy rates below 5 percent justifying higher
market, with vacancy rates below 5 percent justifying higher rents.
Industry experts point out that job growth plays a huge role in creating demand for the apartment
sector, and
multifamily investors are keen to put their money into
markets that have a strong and expanding employment base.
In the
multifamily market, which already has the tightest vacancy rates in any commercial
sector, apartment rents will be rising at faster rates in most of the country next year.
The
multifamily sector was hit hard by a booming single - family housing
market.
Looking at commercial vacancy rates from the fourth quarter of this year to the fourth quarter of 2012, NAR forecasts vacancies to decline 0.6 percentage point in the office
sector, 0.4 point in industrial real estate, 0.8 point in the retail
sector and 0.7 percentage point in the
multifamily rental
market.
However, the housing
market poses no imminent threat to the
multifamily sector.
Still, we believe the
multifamily sector will do just fine in the coming years despite both a wave of new supply and a revived housing
market.
NREI included Washington, D.C. in its 10 Best
Markets for
Multifamily Investment feature in 2017 in part because of the strength of the area's government, non-profit and legal
sectors, which the magazine said «provide just as much locomotive power as the tech, financial and health
sectors do in other cities.»
While the single - family housing
market finally appears to be on the mend, this does not automatically mean less demand for the
multifamily sector.
The
multifamily rental
market has led the rest of the housing
sector into recovery, and about one - third of housing starts in the first quarter were for
multifamily rental apartments.
The pair of mortgage - finance giants, which were bailed out by the U.S. government and placed in conservatorship in 2008 during the height of the financial crisis, have historically boasted outsize influence on the single - family mortgage
market, but Rosengren expressed concern that the duo's growing clout in the
multifamily sector may pose a risks, as the government considers new structures for the entities, created in the wake of the Great Depression to help facilitate homeownership.
«Whether, or how, future reform proposals will impact commercial real estate is unclear — but a potential and significant shock to this
sector of the commercial real - estate
market could occur if proposals require the GSEs to reduce their holdings of
multifamily loans,» he added.