News
HOT MULTIFAMILY BROKER?
November 22, 2011
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| That's what we hear, but judge for yourself (and we're not talking about the twinkle in his eye): Hendricks & Partners Kenny Dudunakis. The multifamily sales market is vibrant, according to the broker responsible for the biggest deal in Washington State for 2011, which closed two months ago. The 882-unit Redmond Hill property sold for just over$150M and will make up half of the firm's projected $300M in volume this year, Kenny tells us. What's moving off the shelves: Everything, all up and down the gamut; core, in-fill deals, and secondary markets (holiday shopping starts early), with cap rates from 4% to 6%, depending. There's a lot of buyer activity out there, he says. And that's probably what the twinkle's all about. |
