X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The red hot investment sales activity in the DC area has morphed into the beginnings of development activity. Marcus & Millichap’s Stacey Milam, a first vice president investments and director of the firm’s National Multi Housing Group in Washington, DC, tells GlobeSt.com he is currently negotiating a few development deals for multifamily and condos that are in the hundreds of thousands of square feet range. Financing has been secured, he says. “What we are doing now is structuring the deals.”

There is precious little other development under way here–either officially or in the negotiation stage–despite the DC area’s relative strength. It is no surprise, of course, that the multifamily space is the first category to be targeted for development now. Sales of multifamily properties have been traded furiously; at the same time the DC area is nearing a supply shortage for condos, according to McWilliams

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.