Multifamily's Counter-Cyclical Appeal

“The dynamics are different” in multifamily, says Von Der Ahe.

NEW YORK CITY—The latest semiannual forecast from the Urban Land Institute has a consensus of commercial real estate economists taking a slightly more cautious stance on the investment sales outlook than they did six months ago. Similarly, in a report published last week, by analysts at Keefe, Bruyette & Woods said they’re seeing volume and pricing moderating amid generally positive fundamentals.

Peter Von Der Ahe sees it too. “No matter what category you’re talking about, this year people are saying ‘okay, the market’s gone up for six years straight at this point, and it’s now time where we have to be a little more discerning about the moves we’re making,’” he tells GlobeSt.com. However, from his vantage point as first VP, investments at Marcus & Millichap and senior director with the firm’s Institutional Property Advisors division, he’s in a position to make a case for multifamily continuing to maintain its counter-cyclical appeal.