We all know that nowadays innovation is instrumental to growth and success in every field, and this is particularly true for the real estate sector which is currently one of the most competitive ones. In order to ensure that his work will bear fruits, Brent Carrier, a real estate developer located in New York City, equipped himself with the knowledge to make informed investment decisions. In this article, he will provide an overview with the essential information of multifamily asset development. In doing so he will point the main demand drivers and conclude with the factors that make the multifamily real estate a widely held and strategic real estate asset class.
The multifamily real estate sector currently accounts for the second -largest share of institutional investors’ real estate holdings, with approximately 25% of the U.S commercial real estate stock. For a long time, multifamily was considered as a strictly residential asset, but over the last few years, things have changed to a degree that multifamily has become one of the four primary commercial real estate asset classes. This asset class spans a wide spectrum of residential properties. In general, the real estate industry classifies multifamily properties as Class A, B or C, depending on important factors like quality, age, location, rent, and amenities, among others. Brent Carrier has been working with multifamily assets for a long time now, which has helped him achieved outstanding performance.