Karen Arbutine & Associates

Multifamily Real Estate Sector Recovering in Central FL

Wed, Jun 09, 2010 at 12:47PM

Multifamily is one of the only real estate sectors in the Orlando area that is starting to experience a recovery.  The Orlando area had 20 multifamily investment sales during the last 12 months through the end of the first-quarter 2010, which resulted in a total of volume of $364.1 million, or $63,000 per unit.

The Orlando submarket led the way with nine transactions totaling $142.0 million, while the city's downtown area reported just one building sale in that period for $20.8 million.  Private investors were the biggest shoppers in the last year, making up 71 percent of the last year, making up 71 percent of the multifamily sales in the Orlando market.  International and foreign investors made up 22 percent of the buyers.

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