Part 1 of 8: 2014 Outlook for Multifamily
The multifamily sector in 2014 is expected to be similar to what we have witnessed in the second half of 2013 in the Washington, D.C. region. The hottest investment is value-add for Class C and B assets and has been the driver of investments sales for the second half of 2013.
Secondly, we do expect to see several new delivery pre-sales taking place as developers look to move brand new product off their balance sheets before actually attempting to start the initial lease-up process.
Lastly, as rent growth is geared towards job growth, it is extremely important to see continued reductions in unemployment as the millennials look to gain willful employment and venture into their first job and apartment. Rents are expected to be flat due to the amount of deliveries taking place.
Executive Vice Presidents Dean Sigmon and Robin Williams each have more than 20 years of experience in the commercial real estate industry, specializing in multifamily assets in the Mid-Atlantic region.