All in the Multifamily
Home is where the heart is, and for the developers, lawyers, brokers and other professionals featured in this multifamily issue, their hearts are where the homes are.
This issue, we keep things “All In the Multifamily.” A handful of individuals and partners representing nine firms share their journey to the multifamily sector and their insight into an industry that has gained momentum in the last few years. Rents are up 1.2 percent from last year, vacancy rates are half of what they were three years ago (11 percent) and everyone in the multifamily business can’t seem to say enough positive things about the sector. As the following pages reveal, this multifamily renaissance cuts across all segments of real estate – class “A”, “B”, and “C” – with transactions in 2012 of 100 units or more accounting for 32, 28 and 40 percent respectively of sales. The people behind these sales shared their fascinating stories with Commercial Executive Magazine, from a partnership informed by the longtime friendship of Marcus & Millichap’s Steve Gebing and Cliff David to the family ties of HSL’s Omar Mireles.