Multifamily Still Has Life Left

Max Sharkansky: “I think that multifamily as an asset class is at a golden age.”

LOS ANGELES—Multifamily still has years of runway. Although there is growing competition and some risky deals getting done, the sector has tremendous fundamentals, according to Max Sharkansky, managing partner at Trion Properties. In fact, Sharkansky expects the fundamentals to remain strong for the next five to six years. This bright and bullish outlook is a sentiment he will share at RealShare Los Angeles on March 24, where he is speaking on the Is Multifamily Still on Top panel with Richard Castillo, VP of MVE + Partners; Jim Goeing, CEO of ReadyCap Commercial; and panel moderator Mike Rovner, president of Mike Rovner Construction.

To get a sneak peak of the panel discussion, we asked Sharkansky the eponymous question of his panel title. “I think that multifamily as an asset class is at a golden age, especially here is Southern California and all major markets on the West Coast, like San Francisco, Portland and Seattle,” he tells GlobeSt.com. “We are seeing a tremendous amount of growth and we are seeing a demand shift in that millennials are no longer buying a home in their early 20s. What we have been seeing is that millennials are staying single and are choosing to rent into their 30s. We also have great economic growth as well, and these things have all created flawless fundamentals for the multifamily market.”