Phoenix, AZ –ABI Multifamily, a dedicated multifamily brokerage and advisory services firm, is pleased to announce the release of the Phoenix MSA’s Year End 2015 Construction Pipeline Report. The Construction Pipeline Report, released quarterly, provides information on all multifamily construction activity, 50+ unit properties, throughout the greater MSA.

“2015 was truly a remarkable year for the Phoenix Metro multifamily market not only from a construction standpoint, but also sales volume, which for multifamily, crested $3.8 billion,” states Thomas M. Brophy, Director of Research at ABI. “Although total 2015 deliveries, 4,661 units across 19 projects, trended below the 20-year running average of 5,230 unit deliveries per year, developers became more aggressive in construction starts which resulted in over 14,000 units actively under construction at year end.”

Mr. Brophy goes on to state, “current Under Construction product, as evidenced on the Under Construction Map (pg. 6 of the report) has been primarily focused in the Downtown Phoenix, South Scottsdale and North Tempe Submarkets. It should be noted that all three submarkets have witnessed increased population amounts, increasing 5%+ since 2010 in most cases, and have seen billions in private/public investment, most notably Valley Metro Light Rail in regards to Downtown Phoenix and North Tempe.”

To read the report and to view the interactive Construction Pipeline Map please go to
https://abimultifamily.com/abinsight-abi-multifamily-phoenix-msa-construction-pipeline-ye-2015/

Interactive Map Link:
https://abimultifamily.com/construction-pipeline-phoenix/

For Additional Information:
Company Website: www.ABImultifamily.com

Multifamily Brokerage Team Contacts:
John Kobierowski, Senior Managing Partner 602-714-1384
Alon Shnitzer, Senior Managing Partner 602-714-1283
Rue Bax, Senior Managing Partner   602-714-1406
Doug Lazovick, Partner   602-714-1388
Eddie Chang, Partner   602-714-1398
Patrick Burch, Vice President   602-344-9197
John Klocek, Vice President   602-344-9258
Lance Parsons, Senior Vice President (Tucson) 520-265-1945

ABI MULTIFAMILY, Arizona’s largest locally-owned, dedicated multifamily brokerage and advisory firm announced the opening of its Tucson regional office in June. Thomas Brophy, Director of Research at ABI Multifamily, released its first Tucson Snap Stats for First Half 2015 from data obtained from RED Comps as an information source.

First half 2015 multifamily sales volume in the 100+ units category was $114 Million, up 38.67% year-over-year ($82 million). In the top three sales per unit price were: The Place at Wilmot North that sold for $62,778 per unit, Arcadia Park that sold for $60,868 per unit, and The Place at Broadway East that sold for $58,333 per unit. Average price per square foot was $60.82 an increase of 10.12% ($55.23) year-over-year. Average year built was 1981.

In the smaller 10-99 units sales, Granada sold for $87,500 per unit, Bermuda for $65,833 per unit and Flower Plaza for $50,000 per unit to round out the top three sales in first half 2015. Multifamily sales in this category totaled $24 million in first half 2015, an increase of 45.37% year-over-year ($17 million). Average price per square foot was $48.20, down by 19.96% ($60.22) year-over-year. Average year built for this category was 1968.

Average effective rent year-over-year was up by 2.1% and on average $722 rent from $707 per month for the 100+ units. Vacancy rate trended down by 0.9% year-over-year to 8.2% for first half 2015 from 9.1% in 2014.

Lance Parsons, CCIM, heads up the Tucson office for ABI Multifamily and can be reached for more information at 520.265.1945.

Click here for the full ABI Multifamily H1 2015 Snap Stats: Tucson-1H-2015-Snapstats

Director of Research Announced – Thomas M. Brophy

Phoenix, AZ – ABI Multifamily is pleased to announce the formal appointment of Thomas M. Brophy as Director of Research. Mr. Brophy brings to ABI over a decade of commercial real estate research experience, as well as a background in multifamily development, land entitlement, water rights law and technology. Mr. Brophy’s addition will further enhance ABI’s ability to provide highly relevant multifamily data research and reports.

According to Senior Managing Partner, John Kobierowski, “We are pleased to welcome Thomas to the ABI Multifamily Team. Research is a critical piece for our multifamily brokerage business. By investing in quality research and providing timely data to our clients, our dedicated multifamily team continues to be a leader in the multifamily brokerage community.”

Alon Shnitzer, Senior Managing Partner added, “We are really lucky to have Thomas Brophy on-board. His unique approach to real estate research, with an emphasis on tech-driven data analytics and conceptualization, has yielded easier-to-understand, more robust, data reporting which will revolutionize our industry.”

ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. The experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.

If you would like more information, please contact ABI Multifamily Corporate Headquarters at 602.714.1400 or email at contact@abimultifamily.com