The multifamily sector in Venture is experiencing a robust level of investment activity, while most other CRE fundamentals have seen only minor fluctuations, a report from CBRE finds.
Investment sales in the California market for the asset class hit $117.6 million in the fourth quarter, up around 23 percent from the previous three months. A big chunk of the activity came from Tom Redfern & Assocs' $88 million purchase of a 255-unit property Ventura Del Sol. Advanced Real Estate Services also had a major purchase, with its $20 million acquisition of YOLO EAST.
Absorption also saw strong growth. Total units more than doubled to 177 compared with 78 in the September quarter.
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