Vivian de las Cuevas-Diaz, a partner with Holland & Knight in Miami
SOUTH FLORIDA—More than $6 billion were poured into the region's multifamily market this year with institutional, local and foreign investors bidding high and large for assets of all shapes and sizes. According to an article written by GlobeSt.com sister publication, ALM's Daily Business Review, steady demand for rental homes has supported impressive rental rates, lower vacancies and top-dollar trades across all product types.
“There are people who this year decided, 'I really need to focus on this. This is the next wave. This is the best way to get a deal done,' ” said Vivian de las Cuevas-Diaz, a partner with Holland & Knight in Miami. “ And a little bit of it was being driven by financial institutions. Financial institutions got very excited by multifamily. Therefore, more people were looking into it.”
Institutional investors went several years without pocketing South Florida apartments because there were none built for nearly a decade, said Brad Capas, founder of CapasGroup Realty Advisors in Fort Lauderdale.
When the construction boom spilled over to the apartment market, all eyes were on South Florida.
Click here to read more about the interest in the southeast Florida multifamily market.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
