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Story Archives: Apartments taking market by storm
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Apartments taking market by storm
Not since the 1980's have we seen anything like what is occurring in the investment real estate world.
Apartments appear to have taken the investment world by storm as the 'hot' property of the moment. While the average cap rate, a multiple of the net income produced by a property before mortgage payments, has historically been in the 10 cap range I am seeing some as low as 6.5 cap rate in major markets. Keep in mind the lower the cap rate the higher the price of the property.
Real Estate Investment Trusts or REITs as they are commonly known have been looking in every U. S. market for properties that meet their criteria. One company was recently quoted as saying "it is hard to find a market that REITs don't want to be in". While REITs look for large properties, local and regional investors are buying smaller properties.
.....For the full story, subscribe to the The Ouachita Citizen's NEW E-Edition!
Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com. |
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