Gabe Tovar and John Duvall featured in Midwest Multifamily & Affordable Housing Business
KANSAS CITY, MISSOURI (March 21, 2022) - Gabe Tovar, vice president- investment sales, and John Duvall, vice president - debt/equity, in Northmarq's Kansas City office shared their insights in the cover story for the most recent edition of Midwest Multifamily & Affordable Housing Business.
The story, titled "Kansas City dealmakers weigh in on cap rates, inflation, plus hot topics with clients," covered how the apartment sector is unequivocally the darling of the commercial real estate investment community today. Multifamily property and portfolio sales nationally totaled $335.3 billion in 2021, up 128 percent over the prior year, according to Real Capital Analytics. The volume of multifamily sales in 2021 was slightly more than double the volume of industrial sales, the next most frequently traded property type.
"What's been the big story in the Kansas City apartment market over the past year?"
Tovar/Duvall: Investors are searching for yield, and the secondary market has proven to be a resilient harbor for new capital entering the asset class. New market entrants in 2021 included several new syndicators, private capital funds, and institutions all landing their first acquisition in this hyper-competitive secondary market.
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