(Read more on the multifamily market.)
PHOENIX-Targeting private capital investors in the multifamilymarket, CB Richard Ellis has formed a multihousing private clientgroup in the local office. Headed up by first vice president TomMontgomery, the recently formed group will target acquisitions anddispositions for 10- to 125-unit assets.
"The plan over the next three years is to garner between 20% and25% of the market share in this area," Montgomery tellsGlobeSt.com. He points out that $4.5 billion last year was deployedinto Phoenix complexes with 50 units or more. "I'd say that 60% ofthe multifamily transactions that take place in our market are withprivate clients versus institutional funds," he adds.
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