After the pandemic slowed down gross sales in 2020, native industrial offers rebounded final yr. As soon as once more, multifamily developments dominated Enterprise Report’s checklist of prime gross sales, with 9 out of the yr’s prime 10 offers being condo complicated gross sales.
As in years previous, a lot of the condo complexes had been scooped up by out-of-state funding patrons.
“Fee affordability, the low value of capital and a rise of provide of fairness capital—these elements drove buyers into actual property final yr, the place multifamily properties appeal to most investments as a result of it’s thought-about to be a decrease danger profile of actual property,” says Wesley Moore, an appraiser with Prepare dinner, Moore, Davenport and Associates, noting that the amount of money obtainable made native and out-of-town patrons extra aggressive. “It was not a traditional yr for the market.”
See the checklist of the ten largest offers in Baton Rouge from the latest edition of Business Report. Ship feedback to editor@businessreport.com.
