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. GlobeSt.com 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.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

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 © 2022 ALM Global, LLC. All Rights Reserved.