Tim Steuernol Tim Steuernol

Multifamily opportunities are beginning to stay on the market for longer periods of time, and properties offering pricing discounts are increasing as well, according to Tim Steuernol, EVP at NAI Capital. While multifamily remains one of the most popular asset classes for investment, this new trend is a clear departure from the trends that we have seen in recent years, which included fast multifamily sales with multiple offers and record pricing. Despite the increase in time to sale, Steuernol says that the market is still healthy and extremely strong.

“We are seeing buildings sitting on the market for longer than we have in the past, and we are seeing buildings with price reductions, which is also something that we haven’t seen in the past,” Steuernol tells GlobeSt.com. “We are starting to see more of those. The market, though, seems to be working itself out. We are still seeing a lot of transactions and we are seeing a lot of investor demand, and we are still in a low interest rate market. The market is still extremely strong.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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