News
SOUTH FLORIDA: Local Investors Drill Down Deep
May 9, 2014
Glitzy multifamily deals get the glory, but bread-and-butter multifamily investment sales are chugging along in South Florida, earning handsome returns, Franklin Street Real Estate Service senior director Elliot Shainberg tells us. (If you're on Atkins, you can look for a substitute deal like celery and cream cheese.) He expects bread-and-butter deal volume to remain strong as mostly local investors—foreign buyers haven't drilled down quite this deep yet—look for a combination of rents and increasing cash flows and property values. Franklin Street recently brokered the sale of the 36-unit Continental West Apartments at 447 NE 125th St, North Miami, which is 100% leased.
