Strong fundamentals drove an eighth consecutive year of multifamily expansion in South Florida. That’s the big takeaway from Cushman & Wakefield’s 1Q South Florida Multifamily Market Update.
“2016 was a funny year in the South Florida multifamily market,” CushWake’s South Florida Institutional Multifamily Team executive vice president Calum Weaver tells GlobeSt.com, noting that the transaction pipeline trailed off a bit in the fourth quarter. “There was record sale activity, yet we witnessed economic uncertainty in the beginning of the year and political uncertainty in the second half of the year, which actually restrained transaction volume.”
(Where does class C fit into the current market? Find out.)
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