News
MULTIFAMILY MONDAY
January 24, 2011
| Just as the Dow reported a 28-month high, Massey Knakal had its own busiest month in almost three years, closing 35 transactions for an aggregate $221M in December. And premium pricing is being achieved for core assets, reports the firm’s partner James Nelson, who will be speaking on the capital markets during Bisnow’sMultifamily Summit this coming Friday at the Roosevelt Hotel. |
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| One of the Massey Knakal's recent transactions includes a multifamily portfolio of four buildings in Astoria, totaling 220 units, which sold for $30.1M cash and closed in six days. A lack of supply has held up pricing, James notes—in Q3 ’08, the firm had close to750 listings, and today, it has fewer than 550. There’s also been an uptick in loan and REO offerings, which has more than doubled to12% of Massey Knakal’s inventory since last year and should continue into this year. To hear more, join James and top market experts like Ackman-Ziff’s Pat Hanlon, Meridian Capital Group’sRalph Herzka, Freddie Mac’s Mike Edelman, Abacus Capital Group’s Benjamin Freidman, and more. Plenty of schmoozing timetoo! Register here. |
