With an appetite for Phoenix’s hot market, out-of-state investors ended 2020 with a slew of big apartment purchases.

Because housing is a necessity, multifamily will always be a secure investment, said Linda Fritz-Salazar, vice president and associate broker for Orion Investment Real Estate in Scottsdale.

“Combine that necessity with our continued population growth and strong employment base, it is no surprise that investors flocked to Phoenix during 2020 to acquire investments in a secure and promising market,” she said. “It’s hard to determine what commercial real estate will look like for 2021 with a new administration in office, but I feel that multifamily will continue to be very strong.”

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