{"id":1004036338,"date":"2012-02-08T12:37:52","date_gmt":"2012-02-08T20:37:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004036338"},"modified":"2022-12-03T19:17:10","modified_gmt":"2022-12-04T03:17:10","slug":"the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\/","title":{"rendered":"The Time is Right for Buying — and Selling and Refinancing — in the Multi-Family Sector"},"content":{"rendered":"

By Nicholas Ziegler, News Editor<\/strong><\/p>\n

Capital markets \u2013 especially in the hot multi-family sector \u2013 are coming around to the idea that there\u2019s no time like right now, for buyers, sellers and finance firms. Within just the last few weeks, deal volume has accelerated for apartments: Walker & Dunlop L.L.C. found a $163.8 million refi package<\/a> for Principal Management Partners. American Campus Communities purchased $208 million<\/a> of student-housing communities. MetLife took a Chicago luxury high-rise off the hands of LYND Partners for $125 million<\/a>.<\/p>\n

\u201cSellers have held on to properties that might be struggling, thinking that the market would turn,\u201d Jake Roberts, vice president of capital markets at Marcus & Millichap Capital Corp., told Commercial Property Executive<\/em>. \u201cAt the back end of last year, we saw value-add deals coming around. (People) aren\u2019t going to try and ride things out, since they realize prices aren\u2019t getting better (this year).\u201d<\/p>\n

Buyers and finance firms, too, are in a good position.<\/p>\n

\u201cRight now, assets are priced right,\u201d he continued. \u201cI think that we\u2019re going to see great opportunities for low-rate financing from life companies and other agencies.\u201d<\/p>\n

And the activity isn\u2019t only focusing on core markets like New York City and Washginton, D.C. \u2013 it\u2019s also percolated outward to cities that haven\u2019t seen significant activity since the market\u2019s 2007 downturn. According to a report by Marcus & Millichap Real Estate Investment Services Inc., cities such as Detroit are seeing motion in the multi-family markets. \u201cAided by tax incentives,\u201d the firm wrote in its 2012 annual report, \u201cproperty operators in Detroit will list performing assets, attracting yield-seeking buyers looking for outsize returns.\u201d<\/p>\n

Similarly, Salt Lake City will likely get some investor action this year. \u201cThe combination of improving operations, firming values and low interest rates will support increased listing activity,\u201d M&M wrote. \u201cencouraging longtime owners to sell and redeploy capital into stronger growth opportunities.\u201d<\/p>\n

But that\u2019s not to say those core markets are out of the picture. But even in New York, activity is starting to stretch beyond the borders of Manhattan. \u201cOpportunistic buyers will target undervalued properties in the outer boroughs,\u201d M&M wrote. \u201cBuyers with a penchant for risk will pay cash for underperforming buildings in (Brooklyn).\u201d<\/p>\n

Ryan Reid, executive vice president & national director of student housing for CBRE Capital Markets, felt the same.<\/p>\n

\u201cThere is a lot of capital pent up,\u201d he said. \u201cRent rolls are improving. You can get Fannie and Freddie financing. If you\u2019re looking for a steady return in this market, multi-family will get you solid return on equity.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital markets \u2013 especially in the hot multi-family sector \u2013 are coming around to the idea that there\u2019s no time like right now for buyers, sellers and finance firms.<\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004036338","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nThe Time is Right for Buying - and Selling and Refinancing - in the Multi-Family Sector - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Time is Right for Buying -- and Selling and Refinancing -- in the Multi-Family Sector\" \/>\n<meta property=\"og:description\" content=\"Capital markets \u2013 especially in the hot multi-family sector \u2013 are coming around to the idea that there\u2019s no time like right now for buyers, sellers and finance firms.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-02-08T20:37:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T03:17:10+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"The Time is Right for Buying — and Selling and Refinancing — in the Multi-Family Sector\",\"datePublished\":\"2012-02-08T20:37:52+00:00\",\"dateModified\":\"2022-12-04T03:17:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/\"},\"wordCount\":446,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/the-time-is-right-for-buying-and-selling-and-refinancing-in-the-multi-family-sector\\\/\",\"name\":\"The Time is Right for Buying - 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