multifamily properties in Arizona

[Cameron Crosley]

Does anyone have really good insight into the Arizona real estate market for multifamily properties particularly in Mesa? Stuff like rents increasing, new industry, population growth, appreciation, crime statistics, etc. I looked online at city data and got some good info as well as subscribed to the phoenix business journal but maybe someone living there can help frame the picture a little better?

[Tim Winter]

@Kyle Karges, It's not just you, its the market we're in right now. There is alot of institutional money investing in multi-family which is compressing the cap rates and making it hard to find good deals. There are some available, but they're mostly off market and even those you have to go through with a fine tooth comb to find the deals. Smaller MF there are still some deals to be had, at least around the Central Corridor and Tempe. I'm not sure about Mesa as that's a little outside my wheelhouse. if you'd like to talk core or eastern side of Phoenix, I can share what I've been finding.