Covid-19 has hammered the U.S. economy and its impact on multi-family apartment investing has been severe.
In May 2020, investors paid a total $3.1 billion to buy apartment properties in the U.S. That’s about one-fifth of the amount they spent in the same period the year before.
By June, things were on the upswing as it appeared the coronavirus was getting under control.
“A slow recovery took place over the ensuing months, so that the latest, trailing, four-week, new listings figure only declined by 15% compared to last year,” says Andrew Rybczynski, managing consultant for CoStar Portfolio Strategies, based in the firm’s Boston office.
But the big players are waiting out the storm. In terms of the deals hitting the market now, the first offerings or apartment buildings for sale have tended to be smaller properties.
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Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.