Investors Once Again Scouting DFW Multifamily Buys

DALLAS-Investors’ scouts are out in Dallas-Ft. Worth as they winnow through a surge of value-added apartment complexes that have come to market in the past 90 days, according to the first quarterly multifamily report by Grubb & Ellis Co.

Dallas vice president Don Ostroff and associate Will Balthrope have authored the DFW section, which predicts rent growth is well positioned to exceed the 3% logged in 2000. Few, if any, concessions are being offered to prospective tenants as supply dwindles. Last year’s net absorption of 26,900 units had pushed year-end occupancy to 95.7%, up from 95.2% at the start of 2000, says the team. Rent and demand are up and construction is down, delivering good news on the metroplex front. Last year, 23,000 units had delivered.