Our Albuquerque office provides investment sales expertise for the acquisition and disposition of multifamily and manufactured housing properties through NorthMarq Multifamily. Call our local office to learn more.
Albuquerque Q3 Market Report: Vacancy Holding Steady, Rent Growth Gaining Momentum
- Vacancy has been stable in 2018, and the rate ended the third quarter at 4.4 percent. The current vacancy rate is 50 basis points higher than one year ago.
- Rent growth gained momentum in recent months, following a slow first half of the year. Asking rents gained 1.4 percent in the third quarter and, at $846 per month, are up 2.4 percent year over year.
- After a very strong first half of the year, investment conditions cooled slightly in the third quarter. While sales velocity slowed in the third quarter, year-to-date transaction volume is still ahead of the pace recorded in 2017.
Download the full report here
NorthMarq Multifamily featured in GlobeSt.com’s Middle Market Digest
Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq Multifamily in Phoenix and Cynthia Meister of NorthMarq Multifamily in Albuquerque negotiated the sale of Lincoln Heights Apartments in Albuquerque, New Mexico. The transaction was featured in GlobeSt.com’s Middle Market Digest. The 184-unit multifamily property sold for an undisclosed purchase price. The NorthMarq Multifamily team represented the buyer and seller in the transaction. Read the full transaction announcement.
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