MARKET SNAPSHOT: Oklahoma City’s Stability Attracts New Investors to the Market
Oklahoma City–Oklahoma City has proven to be relatively recession-proof, notes Tim McKay, senior investment advisor in Hendricks & Partners’ Oklahoma City office, pointing to a Forbes ranking that named it as one of the top 10 cities in this category.
MARKET SNAPSHOT: Charlotte Returns to Institutions’ Radar Screens
The Queen City’s absorptions-to-completions ratio is currently 495 percent. In the trailing 12 months, 4,920 units were absorbed, while only 993 units were completed during the same period.
Will Renter Demand be Even Stronger in 2012? Industry Says Yes
Despite tepid job growth, net absorption in the apartment market continues, according to Hessam Nadji, managing director of Marcus & Millichap Real Estate Investment Services.
MARKET SNAPSHOT: Manhattan Accounts for 80 Percent of New York City’s Transaction Volume
New York–Apartment transactions in New York totaled 115 during the third quarter of 2011, according to Ariel Property Advisors’ most recent Multifamily Quarter in Review: New York City.
MARKET SNAPSHOT: Kansas City’s Predictability Leads Investment Interest to Double
Kansas City, Mo.–Investment interest in the Kansas City metro has nearly doubled, reports Mac Crowther, principal in ARA’s (Apartment Realty Advisors) Kansas City, Mo. office.
MARKET SNAPSHOT: Indianapolis Fundamentals Remain Strong; Investors Seek All Asset Classes
Indianapolis–Indianapolis is doing well, from an economic standpoint. Both the city and the state of Indiana have balanced budgets, points out George Tikijian III, CCIM, senior managing director of Tikijian Associates, who asserts that the state is performing better than most others in the Midwest.
MARKET SNAPSHOT: Top-Tier Assets in Philadelphia Spark Investor Interest
Philadelphia–During the first half of the year, interest in Class A properties in the Philadelphia metro increased, according to Marcus & Millichap’s third quarter report.
Student Housing Income and Expense Survey Shows Northeast Spends Less On Operating Expenses
Washington, D.C.–The National Multi Housing Council’s National Student Housing Council (NSHC) recently released its “Off-Campus Student Housing: 2011 Income and Expense Benchmarking Survey.”
SPECIAL REPORT: Finding Your ‘Sweet Spot’ to Maximize NOI
Phoenix–To determine pricing in student housing, find your “sweet spot” of leasing and start next year’s rents right below that, advised panelists for “What is Your Rent Model?: Are You Maximizing Rent During Renewal and Lease Up?” at the 2011 NMHC Student Housing Conference & Exposition.
MARKET SNAPSHOT: Large Number of Institutional Deals Hit Seattle Market
Seattle–The Seattle market has weathered the recessionary storm well, according to Kenny Dudunakis, senior partner in Hendricks & Partners’ Seattle office.