HOUSTON—The Gulf Coast area has an investment edge due to low interest rates and market dynamics tied to strong job and population growth. In particular, petrochemical and manufacturing booms are driving the demand for labor.
The strongest interest is coming from well-capitalized private buyers in US and often Mexico. Moreover, agency financing remains attractive for existing multifamily, according to ARA Newmark.
As the rent gap widens between new construction and well-located class-B and -C deals, investors are taking advantage with upgrade programs to achieving rent premiums. Some examples include recent sales in Victoria, TX and New Orleans, and a listing in Meridian, MS. Directors Brad Shaffer and Brandon Miller of ARA Newmark represented the sellers and sourced financing for the buyers in the two sales.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
