Wylie says developers are buying properties because they love the story of buying.
HOUSTON—Due to Harvey, the multifamily market became the unwitting recipient of single-family residents seeking shelter last year. This closed the year with lower vacancy than was originally forecast. The vacancy rate contracted some 500 basis points below the long-term average of 8%, according to a report by Marcus & Millichap.
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Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.