JLL’s Phoenix Capital Markets group hires leading institutional office expert Will Mast

Will Mast 

 PHOENIX, AZ – JLL Capital Markets announced that seasoned broker, Will Mast has joined the firm as a Senior Director in its Phoenix office. Mast, working together with Senior Director Ben Geelan, will focus on the sale of institutional office assets throughout the growing Phoenix MSA.

Mast has 15 years of impressive experience in commercial real estate, and, since 2010, has been involved in more than 100 transactions totaling over $3.5 billion in value. A graduate of Southern Methodist University, the Phoenix native is a member of Urban Land Institute and National Association of Industrial and Office Properties.

 

Ben Geelan

"I couldn't be more thrilled to join JLL and to partner with Ben, whom I've always admired personally and professionally,” said Mast. “We're entering an incredible time for Phoenix real estate and I'm excited to get to work."

 The Phoenix JLL office has closed $957 million in office investment sales, equity and debt advisory transactions through third quarter 2021 and has a strong pipeline going into the end of the year.

CONTACT:

 Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

Manufactured Housing values pushed to record levels

Geraldine Guichardo

 

CHICAGO, IL – The unprecedented surge of investment volume in the multi-housing sector is reaching record levels and pushing valuations for manufactured housing communities (MHCs) to an all-time average high of $46,970 per pad in the second quarter of 2021.

 

Early third-quarter transaction volume is indicating the highest trailing four-quarter investment volume ever recorded at $4.5 billion, which will continue to have a positive effect on valuations.

Scott Belsky

“Increased investor and occupant demand, limited supply and consolidation of single assets and smaller portfolios all contributed to valuations reaching an all-time high,” said Scott Belsky, JLL Valuation Advisory National Practice Lead – Manufactured Housing.

 According to JLL’s Manufactured Housing Report, the sector has continued to produce favorable investor returns and strong loan performances and helps provide a solution for the nation’s growing need for affordable living options.

 

Due to its attractiveness, the last 12 months saw a flurry of institutional investment activity in the manufactured housing sector, resulting in increased demand, as investors sought to place capital in more recession-resilient sectors.

 

“The shortage of affordable housing is one of the largest unresolved issues in commercial real estate – and our society – today,” added Geraldine Guichardo, Director, Americas Living Research.

 

“Some renters struggle to find an affordable place to live, and the problem isn’t improving. Since the growing demand for affordable housing presents an opportunity for unconventional solutions, the manufactured housing industry may be well-positioned to reap the benefits of that pent-up demand.”

Zach Bowyer

 

“With asset pricing climbing to new peaks as the investment landscape evolves, investors are adjusting their approaches to deploying capital in a recessionary cycle, with MHCs proving to be one of the more reliable performers,” said Zach Bowyer, MAI, Head of Alternative Real Estate Sectors for JLL Valuation Advisory.

 

JLL anticipates investor sentiment in MHCs to remain optimistic through 2021 and into 2022, with a focus on value and risk, along with ESG goals, shaping investor behavior.

 

 

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U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

 CONTACT:

Kimberly Steele

PR, Capital Markets,

Agency Leasing and

Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com