The multifamily sector may be seeing a brighter future in 2010, according to Jones Lang LaSalle's 2010 Multifamily Forecast Survey:
90 percent of the 200 owners and operators surveyed plan to boost their activity in the sector next year, compared to the 68 percent of respondents who had such plans last year.
Research reports support the conclusions of the survey regarding growing investor interest in acquisitions. "A tremendous amount of capital waiting for well-priced, quality assets to be offered for sale has been accumulated, and many investors have begun to move off of the sidelines," Marcus & Millichap Real Estate Investment Services reported in its National Apartment Outlook report, released this month. [Multihousing News Online]
One area which is not galvanizing interest is development or redevelopment. Opportunistic or value-add plays are likely to attract the greatest investment. 80% of investors say they're interested in the Southwest while an astonishing 100% of investors say they are not likely to consider investing in the Midwest.
The multifamily sector may be seeing a brighter future in 2010, according to Jones Lang LaSalle's 2010 Multifamily Forecast Survey:
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