Multifamily investment could be showing signs of slowing down as we head into the back half of the year, as investors ease up on their appetite for garden-style properties.
According to a research report from CBRE and data from Real Capital Analytics, overall multifamily investment activity took a 6.9% tumble year-over-year in the second quarter.
Overall sales for the quarter came in at $34.5 billion and cap rates edged down to 5.5%.
The report chalks this up to a $3.9 million or 15% YoY decline in garden-style property acquisitions. This is a total reversal of last year’s trend when investors could not get enough garden-style into their portfolios.
The big performer for multifamily in Q2 was mid-/high-rise investment…