The region led all U.S. metros in multifamily investment over the past year as $29.2 billion of apartments changed hands, according to a new report from CBRE...
The region led all U.S. metros in multifamily investment over the past year as $29.2 billion worth of apartments changed hands, according to a new report from CBRE Group. That’s more than double the amount sold the year before.
“Sound fundamentals are what attracts capital to the marketplace, and D-FW is positioned better than almost every metro in the country from that perspective,” said Danny Baker, vice chairman at CBRE.The metro area represented 7.8% of all apartments sold in the U.S. since last April. The nation saw $374.3 billion in sales, up 155%.
The Atlanta area had the second-highest sales volume at $21.4 billion, followed by New York City and Los Angeles . Strong demand from local renters continues to be attractive to investors. The Dallas area — excluding Fort Worth — ranked fourth in first-quarter leasing activity, behind New York, Houston and Chicago, according to CBRE.. Dallas-area rents rose 18.6% from April 2021 to a record $1,501 a month, according to RealPage estimates. In the Fort Worth area, average asking rents were up 16.4% year-over-year to $1,355..
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