The pandemic has been a bumpy ride for the multifamily market. Apartment owners faced reduced rent collections, accelerated migration patterns that re-allocated demand to new markets and a federal eviction moratorium. As it turned out, these challenges only served to show the resiliency of the asset class. This year, investor confidence has been fully restored, according to Daniel Withers and Charles Wright of Matthews Real Estate Investment Services, who sat down with GlobeSt.com for an exclusive interview to talk about the state of the market.
The Matthews representatives have both had an active year. In the Los Angeles area, where they are based, there has been roughly $6.9 billion in multifamily sales volume, more than double the investment volume from the same time last year. In this podcast, Withers and Wright discuss why this is one sign that confidence has returned to the market, about the challenges still left from the pandemic, how the Biden Administration’s economic plans (including potential alterations to the 1031 exchange) may impact investors, and what to expect from the sector going forward.
To listen, press play.