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Why Capital is Migrating Out of West Coast Apts.

SAN DIEGO—A demographic shift is mostly to blame for this migration as Baby Boomers entering retirement age want to move away from management-intensive assets into passive income-producing real estate, M&M's Alvin Mansour tells Globest.com EXCLUSIVELY.

By Carrie Rossenfeld | carrierossenfeld | Updated on August 29, 2016

Alvin Mansour Mansour: “This shift in capital has created more willing sellers but generally at no expense to property values.”

SAN DIEGO—A demographic shift is mostly to blame for the recent capital migration out of West Coast apartments as Baby Boomers entering retirement age want to move away from management-intensive assets into passive income-producing real estate, Alvin Mansour, president of the Mansour Group at Marcus & Millichap, tells Globest.com. The firm recently reported that it finds exchange transactions from multifamily assets into triple-net-lease assets are part of a trend of West Coast capital migration into triple-net assets across the country in search of greater yield. We spoke exclusively with Mansour about this phenomenon, how it came about and where he sees it heading.

GlobeSt.com: Why do you believe that capital is migrating from apartment assets to triple-net-leased assets?

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