(To read more on the multifamily market, click here.)
BOYNTON BEACH, FL-With rising insurance rates driving upoperating costs of multifamily properties, some owners are havingdifficulty operating properties. This has led to a rise in theprevalence of foreclosures and distressed properties, and anincreased interest in property management as a way to address theseproblems, said Dennis Lee, principal and executive vice presidentof the locally based Apogee Cos.
"Over the past year we've done a lot of work with propertyowners with malfunctioning assets," Lee tells GlobeSt.com. "Homeprices have reached an all-time high, which has put pressure on themultifamily market to fill the gap."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
