Orange County has been riding the wave of a healthy economy, and CRE experts expect the good news to continue for multifamily this year.
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"The Orange County market has continued to maintain great fundamentals and the outlook for the future is steady positive growth," Berkadia managing director Shane Shafer said.
As a result, there is an increase of interest from investors to expand their portfolio or build a portfolio in the OC, he said.
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TruAmerica Multifamily senior managing director Greg Campbell said the multifamily market remains strong, but there are some hiccups.
"There are some pockets with multiple Class-A deliveries where absorption has been slow," Campbell said. "But the Class-B space is incredibly competitive with occupancy in the high 97% to 99% range."
Value-add investors have been rewarded for tasteful upgrades, he said.
Join Campbell and Shafer for the Bisnow OC Multifamily event 7:30 a.m. April 5 at the Irvine Marriott.
