Ask the Expert: What specific submarkets are seeing the most investment sales activity in South Florida?
“In general, all of South Florida has had a ton of multifamily investment interest as population, job and rent growth metrics are still strong throughout the region. There has recently been an influx of buyers from New York that have changed their focus into Florida as a result of the new rent control laws passed.
Over the past 18 months, a total of 23 deals have traded from Boca Raton to Boynton Beach in Palm Beach County. Another region with a lot of activity has been central Broward County, including Davie, Plantation and Sunrise. Growth in those areas is being driven by major mixed-use development projects such as Plantation Walk ($350 million) and Metropica ($1.5 billion), both scheduled to deliver soon.”
Joe Rubin, CCIM, MSRE
Director, Multifamily Investment Sales