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Our mission is to help our clients create and preserve wealth by providing the best real estate investment sales, financing, research and advisory services available.
The foundation of our investment sales is the depth of our local market knowledge. Our history of maintaining investor relationships in local markets enables us to be the best information source and transaction service provider locally.
We thouroughly anylyze Tapping into our nationwide network of agents and our Research Services Division to obtain the most current property market and capital markets informationThoroughly analyzing each property to create a successful positioning strategy that will maximize the client's opportunities Aggressively sourcing funds to find the best capital fit for each clientUnderstanding and monitoring the loan process to avoid pitfalls and ensure a smooth and timely close
Strong Demand, Tight Supply Strengthen Case for New Apartment Development
Falling Cap Rates, Short Supply Compel Investors to Revisit the Development Option
Investors continue to prefer U.S. apartment buildings over most commercial properties, even commercial office space, as total multifamily sales volume jumped nearly 80% in the second quarter over the same perioud last year.
Although still just a fraction of its mid-2007 peak, the nearly $15 billion in sales in the quarter brought total investment for the first half of 2011 to $24.5 billion, according to CoStar Group data.
The average per-unit price of apartment properties reached $88,500 in the quarter -- the highest since the third quarter of 2008, said CoStar Global Strategist Michael Cohen during CoStar's Mid-Year 2011 Multifamily Review & Forecast.
Meanwhile, strong renter demand continues to push down apartment vacancy rates and nudge up rents. With capitalization rates for existing properties seeing strong compression in some high-flying markets, larger multifamily developers have responded by starting to ramp up their development pipelines with new projects.
Top coastal markets continued to dominate sales volume in the first half of 2011, including Washington, D.C with $2.6 billion; Los Angeles, $2.3 billion and the San Francisco Bay Area, $2.1 billion. In Atlanta, where investors have sought a large number of distressed properties, sales totaled $1.3 billion in the first six months. In Phoenix, a housing bust market where fundamentals have picked up markedly, also logged $1.3 billion in sales.
