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Why It's A Good Time To Be A Multifamily Seller In The OC

Orange County has become a seller's market for multifamily.

"There's a lot of money chasing not many deals," Sares Regis president of multifamily investments Bill Montgomery said last week at the Bisnow OC multifamily event in Irvine.

OC Multifamily Event
 TruAmerica senior managing director Greg Campbell, Allen Matkins partner Bill Ahern, Walker & Dunlop vice president Mark Grace, Sares Regis president of multifamily investments Bill Montgomery and Berkadia partner Shane Shafer
TruAmerica senior managing director Greg Campbell, Allen Matkins partner Bill Ahern, Walker & Dunlop vice president Mark Grace, Sares Regis president of multifamily investments Bill Montgomery and Berkadia partner Shane Shafer

"It's a great time to be a seller right now," TruAmerica senior managing director Greg Campbell said.

Campbell said his company has received four rounds of bids for a property without getting countered at all.

There is a tremendous amount of capital from around the world that wants to take advantage of what the OC has to offer, according to Berkadia partner Shane Shafer.

OC Multifamily Event
Allen Matkins partner Bill Ahern, Sares Regis president of multifamily investments Bill Montgomery and Berkadia partner Shane Shafer
Allen Matkins partner Bill Ahern, Sares Regis president of multifamily investments Bill Montgomery and Berkadia partner Shane Shafer

Montgomery said there is a lot of development in DTLA and downtown San Francisco, which has capped the rents in those markets.

Shafer said debt is very cheap, and most investors see apartments as a positive place to put capital these days.

He sees the OC as poised for continued growth.


Walker & Dunlop vice president Mark Grace
Walker & Dunlop vice president Mark Grace

"The biggest things happening are around green rewards and affordability," Walker & Dunlop vice president Mark Grace said.

Going green provides substantial savings and enough benefits to make going through the necessary hoops an attractive option for developers, he said.

WASHINGTON DC 06.27.2017

THE WASHINGTON DC STATE OF THE MARKET

Matt Bronfman
Jamestown Properties
Anthony Lanier
EastBanc
Herb Miller
Western Development