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Upside Seen in Down Multifamily Market

DENVER-Now may be the time for multifamily rental property owners to trade up to larger properties, taking advantage of low interest rates, CB Richard Ellis apartment brokers Steve Rahe and Craig Stack say.

By John Rebchook | Updated on June 21, 2002

DENVER-Ten years of incredible rent growth and soaring property values have come to a halt, little rent growth is expected, and vacancies are anticipated to hit 10%. What’s an owner of a multifamily rental building to do?One thing is to trade up to a larger property, taking advantage of low interest rates, say CB Richard Ellis apartment brokers Steve Rahe and Craig Stack.

“Investors have been on the fence this year about selling, with concerns that they are selling to a slowing economy,” they say in a recent report. ”However, with so few properties for sale and buyer demand as strong as ever, prices haven’t dropped as much as many buyer had hoped.”

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