Phoenix Multifamily Cap Rates Compress Across All Class Segments March 2020
10 Mar 2020
• Cap rates for all stabilized property acquisitions and expected returns on cost for value-added properties compressed.
• Healthy market fundamentals, like low vacancies and steady rent growth, led to high levels of investment at low cap rates.
• The cap rate spread between asset classes narrowed, confirming investor preference for lower-quality assets.