Berkadia: DFW 2014 Multifamily Sales Summary
DALLAS-FORT WORTH – Berkadia has released its 2014 Sales Summary for the North Texas multifamily market.
Sales velocity of multifamily properties in 2014 decreased 9.5 percent from 2013, though activity was 55 percent greater than average transactions from the prior five-year period.
Investors acquired 314 properties with total volume of $5.2 billion, a 3.8 percent reduction from 2013. The average transaction, however, rose 5 percent to $16 million as the average number of apartments per sale increased from 195 units in 2013 to 225 units in 2014.
Apartment communities built in the 1960s, 1970s and 1980s increasingly dominated sales activity, accounting for 77 percent of transactions in 2014, compared to 68 percent of deals in 2013. In the last four quarters, prices at these communities fell 8.4 percent, fueling an overall price reduction of 7.6 percent to $71,098 per unit.
| 100+ Unit Sales | < 100 Unit Sales | |||||||
| Avg. Price Per Unit | Avg. Price Per SF | # of Sales | Total Volume | Avg. Price Per Unit | Avg. Price Per SF | # of Sales | Total Volume | |
| 2013 | $80,168 | $88.00 | 240 | $5,091,022,051 | $74,530 | $66.59 | 107 | $360,169,713 |
| 2014 | $71,273 | $79.10 | 245 | $5,015,431,865 | $70,478 | $60.16 | 69 | $228,600,952 |
| Change | -11% | -10% | 2% | -1% | -5% | -10% | -36% | -37% |
Source: Berkadia
Click here for a PDF of the sales summary and a 2015 forecast.
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