Urban Multifamily Leading Real Estate Market Opportunities

Former HUD Secretary Henry Cisneors, now the executive chairman of CityView, makes the case for urban markets as the driving force of the real estate market (including investment from foreign investors) in the near future.

"Of all real estate sectors, multifamily rental seems to be leading the pack in recovery. The CoStar Group, a leading provider of commercial real estate research and information services, predicts a sharp spike in new units for 2012, with more than 22,000 units forecast for 2011. CoStar anticipates that number to jump to more than 94,000 units in 2012 and just over 109,000 units in 2013."

"As the growth of cities becomes a predominant driver for cultural and economic change, real estate development will need to seek opportunities for adaptive reuse and urban infill, offering attractive locations for the echo boomer demographic segment. People are rapidly realizing the benefits of transit-oriented development as a way to reduce congestion and pollution, so we will see more and more developers identify and leverage these sites. "

"Increasingly, there is interest from foreign investors in the U.S. real estate market. Both the dollar and real estate values in the U.S. are currently down, making for an attractive value proposition as the market begins its climb back upward. A recent survey by the Association of Foreign Investors in Real Estate (AFIRE) found that foreign investors plan to boost capital allocations for U.S. assets, with projected increases of 62 percent for equity investments and 83 percent for debt above 2009 levels. Much of that foreign capital will be invested in creative multifamily projects."

Thanks to James Brasuell

Full Story: CityView’s Cisneros on Mega Trends: What is ‘Normal’?


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