Dallas’ multifamily investment activity is at an all-time high, with many properties selling after two or three years of ownership and yielding significant returns for investors. Buyers don’t seem to mind the uptick, attracted to the burgeoning job market that’s expected to keep its momentum. The result? There isn’t enough product to satisfy demand, especially in suburban submarkets.
For instance, we recently brokered the sale of a four-property portfolio, which the seller purchased three years ago and resold for a 53-percent gain. The sales price of one of the largest Class-B properties in the Dallas-Fort Worth area increased by 65 percent over its purchase price in 2012. And another large Class-A property purchased three years ago netted a 50-percent gain when it was sold last month.
via D Real Estate Daily » Blog Archive » Brian O’Boyle: Why the DFW Multifamily Sector is Seeing Record-Breaking Activity.