CBRE: The rise and fall of office-to-multifamily conversions

Office-to-multifamily (OTM) conversions remain rare, but there are high-demand multifamily markets in the West with untapped conversion potential due to a relatively large amount of smaller, older office buildings, according to CBRE.

The firm would expect to see a corresponding increase in the rate of office-to-multifamily conversions over the past two years if the relative demand of the office and multifamily sectors drives conversions, but despite the perfect cocktail of multifamily/office vacancy rates, the rate of OTM is little changed over the past 10 years.

To read the full report, click here.