OC Multifamily Strong Despite Some Hiccups
Orange County has been riding the wave of a healthy economy, and CRE experts expect the good news to continue for multifamily this year.
"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.
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.