GlobeSt.com EXCLUSIVE: Multifamily Spikes a Sure Bet for '05

GlobeSt.com reporters Barbara Jarvie, Bob Howard, Alex Finkelstein and Jennifer Duell contributed to this article.

NEW YORK CITY-Undervalued. That’s how one expert characterizes the multifamily market. But the truth of the statement is being borne out in markets around the country as experts tell GlobeSt.com of the growing strategies being hatched with that sector in mind and the fundamentals giving rise to those plans. Naturally, some markets are stronger than others; some have a deeper hole from which to climb. But the direction across the board bodes well for the sector nationally.

Taking a sneak peek at next week’s UpClose feature, E. Davisson Hardman, managing director and head of Morgan Stanley’s US real estate investing operation, reveals that multifamily will play a larger role in his firm’s investment strategies. What he terms an undervalued sector will continue to gain by such macro-economic factors as rising interest rates, putting the squeeze on single-family home purchases; reduced supply; and a growing employment base. In a series of special reports filed from around the country, GlobeSt.com reporters are chanting the same verse.