“Rents have flattened because a boom in apartment building in recent years has flooded the market with supply, but they haven’t yet posted a substantial decline because there’s still demand for rentals—especially as high mortgage rates keep many would-be homebuyers and sellers on the sidelines.”
–Redfin Economics Research Lead Chen Zhao.
“The growing trend around [office to multifamily] conversions may help to revitalize downtown areas that have been affected by changing workstyles that result in less need for office space.”
–Mike Watts, CBRE President of Investor Leasing.
CBRE, Dallas, said office rental trends indicate a “flight to quality” playing out across 12 major U.S. markets as companies adapt their workplaces for hybrid work.
Multifamily housing financier Merchants Capital hired Linda Hill as Senior Vice President in the Merchants Capital tax credit equity syndications division.
