NorthMarq's Kansas City office featured in Kansas City Business Journal: More than 5,900 KC-metro apartments delivered in 2020
Last year saw an eye-popping influx of apartment complex deliveries around the Kansas City metro area, though analysts believe this multifamily wave has crested, with more modest growth forecasted in 2021.
A total of 5,938 multifamily units from 31 projects came online throughout the Kansas City market in 2020, according to a report [PDF] from NorthMarq's multifamily investment sales team.
That figure — equaling 4.1% growth of the area's existing apartment inventory — outstrips multifamily deliveries dating back to at least 2014, per NorthMarq's data. The next highest year for deliveries, 2016, saw 4,141 new local units.
Looking ahead to 2021, the Minneapolis-based company projects less overall inventory growth, at 2.8%. Even so, representatives noted, the lower percentage does not signify a slowdown in the metro's multifamily market, and still compares favorably to historic averages.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.