November 17, 2024 9:43 am
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Does distress loom in Phoenix multifamily market? 

By Angela Gonzalez | Phoenix Business Journal

Apartment market conditions continue to weaken amid worsening financial conditions nationwide.

Momentum is picking up in the Phoenix multifamily market compared to a year ago, said Adam Finkel, co-founder and managing partner of Scottsdale-based Tower Capital, which connects apartment developers and buyers to financiers. But Phoenix and other Sunbelt markets that saw the most multifamily construction in 2023 are now beginning to see those units delivered, which is going to create a softening in those markets, he said.

Read the full subscription story from the Phoenix Business Journal.

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