Investor · Tampa Bay, FL · Member since 2018 · 17 posts · 7 votes
Hello,
What do motivated/special circumstance sellers of 150+ unit Class A garden-style & mid-rise apartments in the Southeast & Texas do? Whom do they reach out to? Do they always or almost always use a broker?
I once heard a certain business had to formally list its for sale multifamily properties due to its institutional partners. Does anyone know anything about this situation?
I've heard about 150+ unit Class A & B garden-style & mid-rise apartments that were sold off-market with a broker.
I've heard someone say no one would sell 150+ unit Class A garden-style and/or mid-rise apartments off-market without a broker. Is this true?
@Account Closed I'm a little unclear as to what the goal of your post is? Are you a buyer looking for deals? Do you know a seller who is in a sticky situation??
You can use a broker...or not... it just depends if you whoever is selling the building thinks they have the network to sell it themselves. Brokers usually bring buyers in their sphere and have non tire kickers they go to to get a first look at deals. Hoep this helps
It’s not impossible to find those kind of apartment buildings without a broker but experienced brokers will have those. Sellers would most likely go to an experienced broker then sell. If it was small multi you’d have a better chance in finding and closing without any broker involved. Hope this helped!
@Greg Corbett thought I responded to this but I think you will see it off market for value add and stabilized for on market. Large complexes maximize their returns.