The company brokered the sale of 70 multi-family communities in Michigan and Ohio, representing $150 million in sales volume. FOR IMMEDIATE RELEASE / PRURGENT
Canton, MI -- Income Property Organization (IPO) reported another recording breaking year in 2017. The company brokered the sale of 70 multi-family communities in Michigan and Ohio, representing $150 million in sales volume.
“We were able to deliver some tremendous results for our sellers,” said Greg Coulter, managing member. “Many of our transactions were acquired by international and out-of-state investors, demonstrating the depth of our marketing reach.”
After several years of consistent growth in the multi-family housing industry, however, Coulter says his firm has observed a decline, albeit a minor one, in some of the most fundamental aspects of the business.
The firm’s comprehensive review of results in 2017 included several categories such as: transactional volume, sales prices, cap rates, effective rent growth, occupancy rates, new housing supply, interest rates and housing choices, both on national and local levels.
IPO notes that year-over-year rent growth declined nationally in 2017, after peaking in 2015-16.
But Coulter pointed to supply/demand measurements that indicate a bullish outlook for apartment fundamentals over the long term.
“When balancing data and trends while considering the strength of both operating and sales fundamentals, it is safe to say there is good money to be made as either a buyer or seller of apartments in the current marketplace,” said Coulter.
Income Property Organization in Bloomfield Hills, Mich. offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property. To learn more or inquire about multi-family investment opportunities, visit www.incomepo.com or contact Greg Coulter at (248) 932-0300. | 
