Will This Year See Continued Apartment Success?
Published Expert Article
by Andrew Monette
Senior Advisor at Pinnacle Real Estate Advisors
Over the past few years, the statement heard at nearly every real estate conference was, “We’re somewhere in the ninth inning, and we’re not sure how many extra innings there will be.” This thought was on everyone’s mind following the tremendous growth the Colorado real estate market experienced following the Great Recession. After a record year in 2016, many real estate professionals thought it would not be possible to continue the trajectory, and a large majority of professionals felt 2017 was destined to be the year of normalization. To a degree, that theory was correct as sales volume in 2017 was slightly less than 2016. However, 2018 proved to be the big year where multifamily investments would cool down. According to CoStar, when searching multifamily properties in the five-county metro Denver area between five and 200 units, there were 212 sales in 2018 compared to 280 sales in 2016. With 241 sales recorded, 2019 was a year that saw a rebound in transaction volume and Denver yet again was attracting a wave of investors ready to place capital. Read more….
Featured in CREJ’s February 2020 Multifamily Properties Quarterly