Phoenix Multifamily Cap Rates Compress Across All Class Segments March 2020

10 Mar 2020

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• 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.