Monday, May 16, 2011

Multifamily Executive: Portland's Apartment Market Turning Heads

Portland’s multifamily market has been turning a lot of heads this year, as institutional investors double down and vacancies trend below 4 percent. About $135.2 million in multifamily has traded hands year-to-date—a gargantuan 936 percent improvement over the first four and a half months of 2010, according to New York-based market research firm Real Capital Analytics. 
“The real question is, when will the A assets start to pull on the B and C stuff? We’re just starting to see that happen,” says Greg Frick, a partner at Portland-based brokerage HFO Investment Real Estate. “There’s a lot of private equity coming in that doesn’t want to compete with institutions, but is looking for quality B assets.” Read the full story.