By Multi-Housing News
While volume has yet to fully rebound, buyers continue to seek out stable investment opportunities in the Western region, according to Yardi Matrix.
Multifamily investment stayed moderate into the new year. According to Yardi Matrix data, in the first two months of 2021, transaction volume nationwide hit $16.9 billion. While a far cry from the $38.6 billion in deals closed in the fourth quarter of last year, investors are continuing to seek out deals even amid ongoing economic uncertainty.
In Yardi Matrix’s Western region, this trend is apparent. In January and February, the region clocked nearly $2.7 billion in multifamily deals, compared to $6.6 billion the previous quarter. Sale volume has been a relatively even split between asset classes, with communities targeting Lifestyle renters netting $1.5 billion in transactions, or 56.1 percent of the volume this year. Utilizing Yardi Matrix data, the table below highlights the top five markets for multifamily transactions in the Western region.