PHOENIX—The Metropolitan Phoenix multifamily market has been on the upswing for some time. Across the Valley, numerous new apartment and condo projects are underway and investors are actively trading existing multifamily assets. And in the midst of all this activity, real estate experts have identified a renaissance where many of Phoenix’s existing, and sometimes much older, apartment communities are concerned as one of the driving forces in the Valley’s multifamily market. caught up with CBRE‘s Brian Smuckler to discuss this trend.

CBRE’s Brian Smuckler and Jeff Seaman, part of the company’s multifamily investment properties team in Phoenix and specialists in the B and C quality, private-capital, multifamily investment market, point to strong market fundamentals and a demographic shift back toward centralized, urban, amenity-rich neighborhoods as catalysts of this multifamily trend.

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