JLL’s Capital Markets experts have arranged the sale and financing of a portfolio of six metro Phoenix apartment communities on behalf of a fund managed by DRA Advisors LLC of New York City and their joint-venture partner, Dallas-based Milestone Group. The buyer was a leading global institutional investor. DRA first bought the 1,751-unit portfolio in 2012.
The JLL family welcomes Managing Directors Matt Steffen and Brandon Harrington, Senior Analyst Brittain Mandy and Transaction Manager Michelle Teeling to the Phoenix office. The team of four brings a new service line to the Phoenix office, Multifamily, Debt and Equity. We sat down with the team to get… Read More
As multifamily rent growth begins to slow among the nation’s biggest markets, a few markets are maintaining their strong performance and driving positive trends over the forecast horizon. Phoenix is one such market in the West region that is expected to outperform due… Read More
The national multifamily market maintains its momentum after another quarter of declining vacancy, steady absorption gains, and rising rents. All of these positive indicators continue to fuel investment activity as 2016 is on pace to exceed last year’s peak volume. Many of the national themes driving the multifamily market… Read More
As one of the most active multifamily markets in the nation, Phoenix continues to record positive growth across all multifamily fundamentals including rent growth and occupancy levels.
Phoenix recorded $3.6 billion in transaction volume in 2015 on transactions larger than $5.0 million. As of the second quarter of 2016, over $2.5 billion has already transacted and has a strong opportunity to surpass its historical peak of $4.4 billion recorded in 2006.
JLL Executive Vice President John Cunningham recently sat down with GlobeSt.com for an exclusive interview in their article “What Is Fueling Multifamily Demand In The Southwest?” In the article, Cunningham discusses how job growth is a positive factor for multifamily demand in the Phoenix market, a result of the recovery of housing prices.
“As jobs continue to flock to Southwestern markets, the multifamily sector will… Read More
Phoenix ranked the seventh “Hottest Apartment Markets in the U.S.” in a Zillow study based on new apartments being built, how fast those new units get rented and rental prices.
Over 5,700 new multifamily units have been completed in the Phoenix market thus far in 2015. With a… Read More
In its recently published U.S. Multifamily Outlook, Phoenix ranked #1 on JLL’s list of U.S. markets for Demographics, beating out fellow front-runners Austin, Orlando, Dallas-Fort Worth and Tampa when it comes to a community’s successful mix of population growth, quality of workforce and job opportunities.
A great many sunbelt markets, are projecting… Read More
The following are highlights from JLL’s recently published Q3 U.S. Homeownership Trends report.
Homeownership inches up to 63.7 percent in the third quarter
- This figure is 30 bps higher quarter-on-quarter; 70 bps lower year-on-year
- Homeownership rates across geographies have fallen by 30 bps or more in the past year, led by a … Read More