Gebroe-Hammer racks up $1.38B in YTD sales with 93 deals/9,232 units through Q3

LIVINGSTON, NJ — Multi-family continued to flex its muscle over office and retail investment property sales in Q3 2019 thanks to an extended rent-growth run and unquenched appetite among investors for both value-add and new construction product, according to the investment brokerage firm Gebroe-Hammer Associates. At the close of Q3, the Livingston, NJ-based company has arranged a total of 93 deals YTD involving 9,232 units sold for $1.38B with a number of key closings slated to feed the trading-velocity pipeline expected at year end.
“Investors – from private equity funds and institutional entities to private individuals and family offices – are upping their acquisition ‘game’ throughout the New Jersey, Greater Philadelphia and New York State metros as the end of the year draws closer,” said the firm’s president Ken Uranowitz, who has been with Gebroe-Hammer since its inception in 1975.
“Investors are seeking multi-family properties primed for capital improvements and/or recently delivered new-construction properties that serve as neighborhood redevelopment anchors,” said Uranowitz, who noted the highest velocity of activity is being generated by a seasoned-owner demographic that includes equity funds with plenty of dry powder who are aligning themselves with local operators. “Regardless of vintage or class, multi-family investments across the board are poised for asking-rent and property value acceleration.”

 

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