Multi-Housing Sale Activity in South Florida at Five-Year-High

Richard Tarquinio

MIAMI, FL --The CBRE Multi-Housing Private Capital Group is pleased to present the 2013 Spring Multi-Housing Market Update. This report is geared towards South Florida private capital owners and investors and includes key local trends, sale comparables, statistics and financing guidelines.

 Highlights of the report include:

• Significant uptick in multi-housing sale activity. Multi-Housing sales are at five year high.
• In Miami-Dade and Broward average apartment rents are above the record high rents. We anticipate Palm Beach rents to be at record levels later this year.
• Cap rates are stabilizing. For Class A product cap rates range between 4.75% to 5.25%, Class B between 5.75% to 6.50% and Class C between 7.00% to 9.0%.
• More local lenders are aggressively pursuing multi-housing properties for financing or refinancing opportunities at high 3% to low 4% rates.

 For a complete copy of the company’s news release, please contact:

 

Calum Weaver

Private Capital Group

Multi-Housing

CBRE

+1 954 331 1763

calum.weaver@cbre.com

 Richard Tarquinio

Private Capital Group

Multi-Housing

CBRE

+1 954 331 1764

richard.tarquinio@cbre.com