Search
 
Research

Multifamily Drew Notable Buyers, Prices Even With Widespread Construction

SOUTH FLORIDA—The sector is a preferred asset class for investors looking to deploy capital in South Florida. But with so much inventory coming online, lenders are beginning to pull back.

Vivian de las Cuevas-Diaz, a partner with Holland & Knight in Miami Vivian de las Cuevas-Diaz, a partner with Holland & Knight in Miami

SOUTH FLORIDA—More than $6 billion were poured into the region’s multifamily market this year with institutional, local and foreign investors bidding high and large for assets of all shapes and sizes. According to an article written by GlobeSt.com sister publication, ALM’s Daily Business Review, steady demand for rental homes has supported impressive rental rates, lower vacancies and top-dollar trades across all product types.

“There are people who this year decided, ‘I really need to focus on this. This is the next wave. This is the best way to get a deal done,’ ” said Vivian de las Cuevas-Diaz, a partner with Holland & Knight in Miami. “ And a little bit of it was being driven by financial institutions. Financial institutions got very excited by multifamily. Therefore, more people were looking into it.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

More from this author

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.