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In its “Capital Markets” newsletter, Commercial Property Executive featured an article by Aysha Cox, Vice President. Below is an excerpt:

Periodically, some real estate observers sound the alarm about multifamily pricing in the South Florida market, expressing fears that properties are too hot and could plunge, thanks to overbuilding or a hiccup in the broader economy. These cautionary observations remind me of the tale of Goldilocks and the Three Bears, with market commentators complaining that the “porridge,” or housing environment, is either too hot or too cold.

In contrast, we would suggest that it’s just right.

Florida’s got a lot going for it, including beautiful beaches, a sought-after climate and plenty of jobs, as indicated by the state’s lower-than-national unemployment rate of only 3.4 percent in June. Southwest Florida in particular added more than 15,000 jobs during the last year, according to Gov. Ron DeSantis.

Many of the new employment opportunities were in high-paying categories like construction and STEM (science, technology, engineering, mathematics) jobs, along with traditional ones like leisure and hospitality. Palm Beach, Broward and Miami-Dade Counties also posted relatively low unemployment rates of 3.6 percent, 3.3 percent and 3.2 percent respectively, according to figures released by the Florida Department of Economic Opportunity.

As more companies and small businesses move to Florida, creating new jobs, more individuals will follow. This influx will help to maintain the demand for apartment rentals and co-ops, which are particularly attractive to the lifestyles and budgets of the key millennial market. Click here to read more.

A northern N.J.-based commercial real estate investment firm, Case concentrates on transactions in the $2.5 million to $50 million range for transitional properties. Case is active as a high-yield private lender in New Jersey, New York and Florida as well as in the Northeast and Mid-Atlantic regions; a financier of transitional properties; a purchaser of performing, sub- and non-performing debt; and a mezzanine and equity investor. Funds can be deployed as real estate debt purchases, bridge and acquisition loans or rescue and restructure capital. Case is one of the leading bridge lenders in New Jersey, New York and Florida.


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