multifamily

February 10, 2016 Comments Off on Marcus & Millichap: More MF Development in 2016 Views: 310 California News, National News

Marcus & Millichap: More MF Development in 2016

Multifamily developers are anticipated to complete 250,000 units this year across the country, according to Marcus & Millichap’s “2016 Multifamily Forecast.” The report notes that the anticipated total will surpass the 250,000 units that were delivered last year.

The forecast also indicates that:

  • New rentals were absorbed in substantial numbers last year, which led to a vacancy rate of 4.2%.
  • Employers will create 2.6 million jobs this year, above the projected 2.5 million that were created in 2015.
  • Plenty of upsides drove capital toward multifamily in 2015, with secondary markets standing out.
  • Development will continue to be an option for investors interested in newer properties higher yields, due to lower cap rates for already existing Class A assets.
  • Investors will target locations near mass-transit hubs in urban cores.

Read More at Marcus & Millichap

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