Jan. 5, 2012
Santa Ana, Calif.—According to Grubb & Ellis Co.’s 2012 National Real Estate Forecast, additional growth is on tap for the U.S. multifamily sector this year, after a successful showing in 2011.
“We felt really from the very beginning of last year that it was going to be a good year,” Ernest L. Brown, an executive vice president and managing director with Grubb & Ellis, tells MHN. “Financing was available where it wasn’t available for a lot of other product types; the demand was clearly there and we saw more demand coming. So it really performed very well, pretty much in line with what we had expected.”
Last year, multifamily emerged as the best performing commercial real estate property type, and the commercial real estate services firm expects the sector to remain at the head of the class. A driving force behind… Read more…