The complete report can be viewed here. Some highlight relevant to Miami and South Florida overall include: The usual suspects open the list of the most expensive areas to rent in South Florida. In July, Fort Lauderdale rents have reached $1,948, and those in Miramar, $1,886. Davie is rapidly catching up, with rents averaging $1,829, […]
Carl Whitaker, Manager of Market Analytics with RealPage, providing property management software solutions for the commercial real estate industry, joins the host of America’s Commercial Real Estate Show to discuss the multifamily market, including investment performance, supply, and rent growth. A chart is displayed showing growth of supply, dominated by the western United States, […]
The April Rent Report issued by RentCafe shows Miami rent levels as above the national average, except for the submarkets within it of Pompano Beach and Hialeah. Rents across the United States saw an upwards move of 3% versus last year to an average of $1,436 per month. As area multifamily investors are gleefully aware, […]
Deputy Chief Economist and VP of Asset Optimization at Real Page Jay Parson discusses the multifamily property market, touching on topics like rent growth, urban vs suburban multifamily trends and observations, construction costs, and apartment supply levels. He talks about the wide difference today between class A and class B properties, with a 40% […]
Steve Firestone, Managing Partner with Crown Bay Group, joins Michael in Studio One to discuss tips for managing and investing in C-Class apartment properties also referred to as workforce housing. Crown Bay Group typically has 200 to 400 C+ to B- multifamily housing. He notes that they’ve seen great rent growth in recent years. He […]
Kevin Keane, Executive Vice President and COO with the multifamily developer Bainbridge Companies, joins Michael on America’s Commercial Real Estate Show via Skype to discuss opportunities in multifamily development, construction costs, and lender sentiment. Bainbridge develops “basically along I-95,” from Miami to New Jersey. He discusses how construction costs, particularly materials and labor, are […]
Observations and expectations related to multifamily and housing as discussed in the report, Market Expectations and Realities, a combined effort of NAR, Deloitte, and Situs RERC, are discussed, The discussion is held by George Ratiu, Director of Quantitative & Commercial Research with the National Association of Realtors® (NAR). He talks about the continued strength in […]
Tom Walsh, SVP of Grandbridge Real Estate Capital LLC, joins this commercial real estate video cast to talk about how multifamily properties are performing ,lender sentiment for financing such properties, and expectations for the multifamily financing environment, including interest rates, in 2019. He notes that multifamily financing remains “very much of a Fannie and Freddie […]
Multifamily housing units under construction remain near multi-decade highs, driven by strong demand. The second chart below shows commercial real estate indices, with apartment prices outperforming other markets. pic.twitter.com/dDJPj9KuUD — Edward ‘Tj’ Gerety III (@EdwardGeretyIII) February 27, 2019
Jay Parsons, Deputy Chief Economist with RealPage, joins Michael to discuss the multifamily market, including vacancy rates, rent growth, and more. He comments how in the face of impending doom the multifamily keeps on chugging along. Occupancy is at a healthy 94.4% overall, up 40 basis point year over year. Rent growth has accelerated, […]
Doug Ressler, Director of Business Intelligence at Yardi-Matrix, appears on America’s Commercial Real Estate Show to discuss trends in the multifamily market, including market fundamentals, demographic trends affecting multifamily fundamentals, and opportunities for multifamily in growing markets. He first discusses general trends, generally predicting a firm market in the near term. He feels rental rates […]
RentCafe just published its year end rent report. The top line for area multifamily investors again got a boost. In Miami, apartments now cost $1,684 per month, a 4.5% increase from the prior year. By comparison, average rent grew 3.1% nationally. Within the South Florida area, Doral registered as the city with the highest average […]
New supply of multifamily property units, changing demographics, and rising interest rate levels are all combining to have a big impact on the multifamily market. Jay Parsons, Director of Analytics at RealPage, a company that provides property management software solutions for multifamily, commercial, single-family and vacation rental property owners, appears on America’s Commercial Real Estate […]
In this video, RealPage Vice-President Jay Parsons, whose company provides property management software solutions, discusses multifamily property sector performance. Parson discusses rent growth, how the job market is impacting the sector, supply and demand trends, multifamily property property class outlook, new multifamily construction trends and costs of construction trends, cycle outlook, generational drivers in the […]
In this America’s Commercial Real Estate Show episode, Bainbridge Vice President and Chief Operating Office Kevin Keane discusses the multifamily sector, including demand drivers, development trends, regional trends, technology for units, issues with affordability, community access points, parking, ride share, labor shortage, construction costs, and rising rates. The Bainbridge Companies, founded in 1993, is a leading owner, […]
Leaders Tim Bodner and Byron Carlock of global accounting and professional service company PwC appears on The Commercial Real Estate Show with its host Michael to discuss what they view as the impact of the Tax Cuts and Jobs Act on the multifamily commercial property sector. Amng the topics they discuss include reduced tax […]
