L.A. 2018 Investment Sales Among Top in US

Dana S. Brody

Los Angeles multifamily investment sales volumes ranked among the highest in the country last year. According to research from JLL, Los Angeles ranked third among major metros for investment sales in 2018, behind New York and Dallas. Sales totaled $7.5 billion dollars, a 36.3% increase over 2017 investment sales. The healthy local economy, including job and GDP growth, is driving the investment sales activity.

“The Los Angeles overall economy remains healthy,” Dana Brody, SVP at JLL, tells GlobeSt.com. “The area represents a large population center with nearly a quarter of the California’s population living in Los Angeles. The Los Angeles real GDP is expected to grow 3% this year. We have seen significant job growth in leisure and hospitality, Education and health services and professional services. The submarkets we are seeing this impact office leasing are in tech and media concentrated markets including Hollywood, Santa Monica, Playa Vista and the Westside. Low vacancy rates coupled with strong market fundamentals make the Los Angeles multifamily market very desirable to investors looking for a safe place to invest.”