San Diego Multifamily Sales Come to a Standstill

San Diego multifamily sales have come to a standstill. According to JLL’s Darcy Miramontes, there have been no multifamily sales since the onset of the pandemic. The halt in sales, however, isn’t reflective of demand, which remains strong. Instead, the lack of transactions is indicative of the market uncertainty, particularly in the near term.

“Multifamily investment activity has slowed quite a bit. Most owners and operators are focused on operations, including tenant retention, COVID protocols and so on,” Miramontes, managing director at JLL, tells GlobeSt.com. “However, the appetite for investment in multifamily in San Diego continues to be strong and will be evident when more product comes to market.”