After a record 2021, investor demand for multifamily has remained robust in the first quarter of 2022.
That's according to Real Capital Analytics data analyzed by Newmark Research which says, there is $63 billion in U.S. sales volume. Phoenix, Arizona ranked sixth among major metros in terms of sales volume with $17.5 billion in volume over the 12 months ending in the first quarter.
The sale of the two-property, 369-unit multifamily portfolio in the Phoenix area affirms the growing demand for multifamily investments. Newmark arranged the $111.75 million sale of the properties that are located in the Southeast Valley. The portfolio comprises of Omnia on 8th, a 188-unit multifamily property in Tempe, and Omnia McClintock, a 181-unit property, also in Tempe.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
