LOS ANGELES-If multifamily housing here was a weather report, the forecast would be partly sunny. That's the assessment of a new team at CBRE brought on to take care of institutional clients in sales of large apartment properties in the western U.S.
Curtis Palmer leads a team of seven that's based in the CBRE office in Beverly Hills. They all join from Multi Housing Capital Advisors, a multifamily investment group founded by Palmer. Since 2009, MHCA sold, financed and equitized $2 billion in apartments.
Palmer tells GlobeSt.com that the L.A. multifamily market is “beginning to look up,” but things are “just getting back to where we were pre-recession.” The good news is that there is fierce competition for multifamily units coming on the market, thus driving prices higher.
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