John Manning: Great Opportunities in Condos
- Mar 24, 2014
John Manning, managing director, capital markets, at JLL, discusses the current apartment development cycle, the condominium market and apartment investment sales in San Francisco.
Condo values increased by 18 percent last year, but capital is still difficult to obtain for condos, says Manning. Nevertheless, there remains good opportunities for condos “at today’s prices.”
On the investment sales front, there is not an abundance of sellers of institutional-quality properties at this time, and in San Francisco, cap rates are as low as 4 percent.