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| Victoria Wood |
DELRAY BEACH, FL - Rising rents, declining vacancies and an
expansion of construction activity will prevail in most of the nation’s
multifamily markets in 2013, according to The MORE Group, a real estate
organization specializing in developing, rehabilitating and marketing apartment
properties.
“The opportunities for multifamily investors will be
exceptional in 2013,” said Victoria Wood, president of The MORE Group.
“The new year brings the probability of rising valuations on multifamily
properties and the trend is firmly supported with rising rental rates and high
occupancy.”
The MORE Group is projecting overall nationwide apartment
rental rate increases of 3 to 5 percent in the year ahead, although certain
markets will see larger rent gains.
The MORE Group is receiving a significant number of
inquiries from investors and institutions regarding The MORE Group’s asset
management services for multifamily portfolios following their recent
acquisitions across the nation, Wood said.
“The multifamily sector is strong and many sophisticated
investors need to establish a position with well-timed apartment investments,”
Wood said. “We are partnering with a number of investment groups that rely on
The MORE Group for acquisition counseling and asset management services.”
The uptick in multifamily construction is expected to
continue throughout 2013, and perhaps well into 2014, Wood said.
A number of developers are seeking urban infill locations,
which have strong market appeal to the Generation Y, a large demographic
segment between 20 and 34 years old. A similar trend to watch is the emergence
of “micro” units, some less than 500 square feet, which have lower rents for
tenants on limited budgets, Wood said.
The MORE Group is a Delray Beach, Florida-based real estate
organization that operates across North America developing, rehabilitating and
marketing rental units, as well as condominiums with for-sale units.
The firm has experience in optimizing more than $1 billion
in real estate assets, directing asset management, fractured condominium
workouts and construction projects. www.TheMOREGroupre.com
CONTACT:
Victoria Wood
561-265-5156
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