Unprecedented Demand Pushing MF Cap Rates
ByCatch HFF, the NJ Economic Development Authority, Colliers, Hartz Mountain, Investors Bank and more atRealShare NEW JERSEY on September 16. New venue: The Hilton Meadowlands.
Thomas McConnell
EAST RUTHERFORD, NJ—Unprecedented buyer demand is making the multifamily investment market “very exciting,” says Thomas McConnell, CCIM, managing partner of Hasbrouck Heights-based Redwood Realty Advisors, one of the panelists featured at this year’s RealShare New Jersey Conference.
In comments provided exclusively to GlobeSt.com in advance of his appearance at the conference, McConnellsays “We are seeing unprecedented buyer demand. That demand continues to far outweigh the available supply of apartment properties for sale. As a result, it remains an extremely aggressive market in terms of pricing and cap rates. It is incredible how much buyers are pushing cap rates.”…