Portland multifamily continues to shine
After 2013 ended with the best quarter since the global financial crisis for multifamily transactions in Portland, Ore., transaction totals (including pending deals) in first quarter 2014 have already surpassed the year-over-year totals from first quarter 2013 by nearly $10 million with nearly half the quarter to go, according to data from Real Capital Analytics. This is further evidence that capital is slowly making its way out of the primary markets and into secondary metropolitan areas. This move can be especially important for multifamily investors, as many experts think that the sector is fully priced in the United States, forcing investors to find capital in value-add plays and secondary markets.
Fourth quarter 2013 saw more than $448 million in multifamily transactions in the Portland area — the highest total since the GFC and a year over year increase of $87 million. The total wa