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The Phoenix multifamily market is officially among the top in the nation. According to a new report from Commercial Search, the city is ranked sixth in the nation for multifamily sales over the last decade. The market has closed $42 billion in apartment investment sales since 2009. During that time, prices on multifamily increased 156%.

“Recent multifamily investment activity in Phoenix has been driven by the overall growth and success of the Arizona economy,” Chapin Bell, CEO of P.B. Bell and an expert on the Phoenix market, tells GlobeSt.com. “There are a number of large companies coming to Phoenix to expand their businesses which brings an influx of job opportunities to the city so more individuals are flocking to the area. As a result of this, we’ve seen an increased need for housing, especially in multifamily.”

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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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