GlobeSt Features Nabil Awada
In a recent article with GlobeSt. titled, “Los Angeles Multifamily Investment Finds Its Footing as Activity Grows,” Vice President and Associate Director Nabil Awada discusses how investment activity has gained momentum despite hurdles the market is facing.
It has been a challenging five years for the Los Angeles multifamily market. COVID caused significant restrictions to be placed on the city’s multifamily owners; ultimately diminishing rent increases and making room for rent deferrals for directly impacted tenants. Almost immediately after those restrictions were lifted, two historic fires destroyed thousands of homes and commercial buildings across the metro.
However, despite the seemingly never-ending hurdles the market is facing, Awada, who has seen the dynamics first hand, says investment activity is finally gaining back its momentum. The current environment of ‘pricing and finding opportunity,’ according to Awada, is fueling interest from investors.
In the current market, pricing has begun to stabilize, in alignment with interest rates, helping to fuel investment activity. “Pricing is starting to become a bit more realistic,” says Awada. “There is now an acceptance of what the new reality is. Buyers are starting to transact more, and sellers are more willing to meet the market.”
Read the full article here to learn more about the recent uptick in momentum in LA’s multifamily investment market.
