Multifamily

The CBRE noted a significant increase in signed confidentiality agreements for industrial and multifamily properties in Q2. But real estate still has at least a three-year journey to pre-coronavirus risk levels, the company warned.

Low interest rate-driven refinancings, plus migration of workers to lower density area, means a banner year for mortgages—if certain assumptions about the government and COVID-19 are met.

The high cost of urban living coupled with the urban areas remaining hotspots for the pandemic have pushed buyers outside city centers

After the initial halt in apartment investment activity due to the coronavirus pandemic, demand and activity in Santa Monica is beginning to return.

Despite COVID bringing a halt to many sales, prime San Francisco neighborhoods are in demand with well-priced multifamily buildings receiving multiple offers and value-add investors are looking for Sacramento opportunities.

"When you step back and look at the bigger picture, it seems that those writing off urban real estate have done so prematurely."

In 2019, there were 321,000 units, but this year, there will only be 283,000, which is a 12% decrease, said a report by RENTCafe Blog.

Redeemer Presbyterian Church purchased the 45,094-buildable-square-foot, UES asset, with plans to redevelop the space.