Texas Multifamily Hugely Active in 2012

HOUSTON- There’s little doubt that 2012 was a highlight year for the multifamily sector in Texas. Occupancy throughout the four major cities (and the state, for that matter), was well above 90% to 92%, with limited product coming online (though more is under construction in Dallas and Austin than in Houston). Thanks to investment and renter activity in the multifamily sector this past year, “most brokers and principals are smiling,” comments Ed Nwoediki senior director, Apartment Brokerage Services at Cushman & Wakefield of Texas Inc.

Richard Campo, chairman of the board and CEO with Camden Property Trust also didn’t mince words concerning 2012. “It’s probably the best business environment we’ve had in Texas for the past 20 years,” he remarks.