The multifamily sector has clearly been the best performing sector for the last four years. With consistent strong rent growth and low vacancies, combined with readily available financing at record low interest rates, investors have, in many cases, bid the pricing of apartments to past their 2007 peaks. So said Scott Farb, partner at CohnReznick, who served as moderator of the Economic Update panel at ALM’s RealShare Apartments 2013 Thursday morning. “With consistent strong rent growth and low vacancies, combined with readily available financing at record low interest rates, investors have, in many cases, bid the pricing of apartments to past their 2007 peaks.”
But despite the good news, Farb said to the 2,000 industry executives in the audience, there are clearly headwinds confronting the apartment sector.
Read more...Apartments: ‘Potential for a Nice Long Cycle’ - Daily News Article - GlobeSt.com
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