International Investors Have Sights Set on U.S. Multifamily Deals

The money from overseas spent on U.S. apartment buildings is likely to increase in 2021, once several working vaccines against the coronavirus are widely distributed and it is easier to travel.

New foreign investors are investing in apartment properties in the U.S.—even if they can’t easily get on a plane to visit buildings they are interested in.

“We can expect to see allocations from overseas increase,” says Alex Foshay, vice chairman and head of Newmark Capital Markets’ International Capital Markets Division, based in New York. “There are new investors focusing on single-asset acquisitions… investors like Korean institutions and Middle-Eastern syndicators.”

These new investors are beginning to bid for properties, joining the large foreign pension funds and sovereign wealth funds that have already been buying for years and who have been extremely active as the year ends. The money from overseas spent on U.S. apartment buildings is likely to increase in 2021, once several working vaccines against the coronavirus are widely distributed and it is easier to travel.

Despite pandemic, international investors spend billions

The chaos caused by the spread of the coronavirus did not stop foreign investors from buying apartment properties in 2020 … though it did slow them down.

International investors spent $5.3 billion to directly purchase apartment properties in the U.S. between the beginning of the year and early December, according to JLL Capital Markets. That’s a lot less than the $11.1 billion they spent over the same period in 2019. But it’s not such a sharp decline compared other types of real estate investments.

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