The latest news of interest to multifamily housing investors in Oregon and Washington.
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Monday, September 22, 2008
Big Players Holding Back for Lower Prices
Given the current credit crunch, the advantage for acquiring multifamily properties rests with equity-blessed players like REITs and institution-backed investment advisors. Income producing apartment properties are sitting with general equilibrium so few sellers have adjusted their asking prices, while the best-heeled buyers consider some sellers' pricing expectations unrealistic in today's shaky economic situation and conservative financing environment. Data crunchers report investment could fall as much as 60% from year end 2007 to year end 2008 on investment property trades, largely due to particularly slow portfolio and other large transaction sales. The bulk of today's deals are modest-size transactions in major markets.
Summarized from: "Long Jump: Well-Heeled Equity Players Can Leap Over The Bid-Ask Gap -- But Will They?" By: Brad Berton, Commercial Property News