Monday, November 12, 2012

CBRE Sees Strong Multi-Housing Market in South Florida



Richard Tarquino
MIAMI,FL --The multi-housing market remains very strong in South Florida. Rents in most submarkets are at record levels and occupancies are over 95%.

“We are seeing  cap rates on class a assets ranging in the high 4 to 5% range on "in-place" NOI,” says Calum Weaver, Private Capital Group, Multi-Housing, CBRE.

This is defined as in place NOI adjusted for RE taxes, insurance and reserves. Class B assets ranged from 5 to 5.5% on in-place NOI and Class C properties are in the 6 plus range.

Strong market fundamentals are causing more multi-housing development projects throughout South Florida. Developers are building to low 6 in-trended yields in urban areas, and 7 in the suburbs.

Calum Weaver
One of the biggest developments over the past year has been an increased appetite by a variety of lenders willing to provide financing for private investors.
Lenders are aggressively pursuing private capital multi-housing opportunities in the $1 to $5 million range.

Even non-recourse financing is now available. With a variety of lending options available, at near record low interest rates, the multi-housing private investor has numerous debt solutions available for an acquisition or refinance. In this month’s multi-housing market update,

For a complete copy of the company’s report and additional market information, please contact:

Calum Weaver
Private Capital Group
Multi-Housing
CBRE
954.331.1763

 Richard Tarquinio
Private Capital Group
Multi-Housing
CBRE
954.331.1764















   




  










 










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