IPO 3rd Quarter 2021 News
October 7, 2021 – Bloomfield Hills, MI
IPO is pleased to announce our 2021 multifamily investment sales through the third quarter. Q3 marked another prolific quarter for IPO clients with over $100,000,000 in transactional volume, 1,335 units and 24 properties sold; bringing our YTD numbers to over $350,000,000 in sales volume, reflecting 5,492 units and a remarkable 94 different communities. Within three quarters we have surpassed our previous annual record.
As proof of our continued market expansion, the sales volume reflected transactions all over the Midwest, with the four largest closings occurring in Metro Detroit, Columbus, and Grand Rapids.
IPO is pleased to report that as of this writing, it appears that the dire threat of the 1031-exchange being eliminated is not as material as previously thought. However, considerable unfavorable tax reform is still on the table. Many IPO clients are booking transactions in full expectation of increased taxes in 2022 and beyond. We have never seen a better state of health in the apartment industry based on present conditions. Between operating fundamentals and robust transactional volume this asset class has become a juggernaut. With strong rent growth projected for the foreseeable future combined with all-time low interest rates we see no end in sight.
Income Property Organization in Bloomfield Hills, Mich. offers customized multifamily brokerage services that are designed to meet the specific needs of a wide range of clients — private owners as well as institutional investors — who want to buy or sell multifamily assets. To learn more or inquire about multifamily investment opportunities, contact IPO at (248) 932-0300.