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.
December 21, 2020 | Bendix Anderson | Wealth Management
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.
