Opportunity also exists in suburban areas with strong school districts, where developments with larger units and family-oriented amenities like playgrounds and dog parks can perform well. Senior communities are in demand near affluent single-family markets with high walkability.

GlobeSt.com: What other predictions do you have for the South Florida multifamily market in the year ahead?

Weaver: One trend to watch in 2018 is the increasing size of multifamily sales. The size of multifamily sales is also changing.

For the past two years, 85% of the total sales occurred over $20 million. Historically, sales under $20 million accounted for over 30% of deal activity in South Florida. Sales under $20 million dropped by 43% from $829 million in 2016 to $472 million in 2017.

There is no panacea that accounts for the shift, however, factors such as limited available product to buy and a buy-sell bid gap have contributed to fewer sub-$20 million sales. In short, I anticipate more bigger sales in the market and fewer smaller sized sales.

Other things to look out for in 2018 include:

1. Value- add opportunities in submarkets with plus or minus 20-year delivery gap in new construction;
2. Affordable housing remains drastically underserved. It's important to understand the House tax reform bill and the possible elimination of private-activity bonds, as this this could have negative consequences for affordable development;
3. Price per pound: Look for assets below replacement cost. Go beyond the in-place numbers.
4. Properties near the Brightline and New Tri-Rail stations;
5. Senior communities near affluent single-family markets and in areas with good walkability;
6. Income-producing development sites for multifamily and condo.

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