By Barbra Murray, Contributing Editor
Santa Ana, Calif.—According to Grubb & Ellis Co.’s 2012 National Real Estate Forecast, additional growth is on tap for the U.S. multifamily sector this year, after a successful showing in 2011.
“We felt really from the very beginning of last year that it was going to be a good year,” Ernest L. Brown, an executive vice president and managing director with Grubb & Ellis, tells MHN. “Financing was available where it wasn’t available for a lot of other product types; the demand was clearly there and we saw more demand coming. So it really performed very well, pretty much in line with what we had expected.”