Investors Hungry for Multifamily Deals in Metro Phoenix

Article originally posted on Phoenix Business Journal on January 8, 2021

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.”

This investor demand comes at a time when apartment occupancy was 95.6% at the end of 2020, which was 50 basis points higher than the previous year, said Thomas Brophy, national director of research and analytics for multifamily investments for Colliers International.

Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2021/01/08/investors-hungry-multifamily-deals-metro-phoenix.html

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