Chicago may have Todd Frazier and Kris Bryant smacking homers, but as this video shows, the Midwest’s real heavy hitters have been three domestic financial hubs.
Since 2012, New York ($3.94B), California ($2.51B) and Texas ($1.77B) have led the charge of non-local investors dedicating funds to the multifamily sector of the Midwest.
KIG managing partner Todd Stofflet tells Bisnow that from January 2012 to May 2016, an average of $253.5M in capital flowed into the Midwest per month. That's $8.3M a day.
KIG financial analyst Dan Gonzalez says tempered expectations in other cities helped spark interest in Mid-American hubs, with about 60% of the $22.2B invested into the Midwest since 2012 coming from non-local investors chasing higher yield opportunities.
For more info on the finances driving the Midwest multifamily market, and to learn more about our Bisnow partner, click here.
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