Florida Apartment Overview Presented By: Byron Moger Executive Director Florida Apartment Brokerage Services Cushman & Wakefield of Florida, Inc.

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Presentation transcript:

Florida Apartment Overview Presented By: Byron Moger Executive Director Florida Apartment Brokerage Services Cushman & Wakefield of Florida, Inc.

1 Global C&W Locations

2 ABS C&W Locations

3 Florida ABS C&W Locations

4 Economic Overview EMPLOYMENT Oct - 09 Oct - 10 Percentage Growth Miami - Ft. Lauderdale - Pompano Beach MSA2,542,8542,555,4400.5% Tampa- St. Petersburg - Clearwater MSA1,157,1161,149, % Orlando - Kissimmee MSA995,3021,000,7660.5% Jacksonville MSA611,984609, % Statewide5,307,1665,316,1570.1% SOURCE: Florida Agency for Workforce Innovation 2009 Percentage of Total Miami - Ft. Lauderdale - Pompano Beach MSA5,445, % Tampa- St. Petersburg - Clearwater MSA2,747, % Orlando - Kissimmee MSA2,082, % Jacksonville MSA1,328, % Statewide18,537,969 SOURCE: US Census POPULATION

5 Economic Overview CONDOMINIUMS (Median Sale Prices) Oct - 06 Oct - 10 Percentage Growth Miami$250,000$107, % Tampa- St. Petersburg - Clearwater$159,900$81, % Orlando$163,800$50, % Jacksonville$152,600$66, % Statewide$209,200$82, % SOURCE: Florida Association of Realtors SINGLE-FAMILY, EXISTING HOMES (Median Sales Prices) Oct - 06 Oct - 10 Percentage Growth Miami$356,000$199, % Tampa- St. Petersburg - Clearwater$225,800$137, % Orlando$267,100$130, % Jacksonville$197,900$141, % Statewide$242,500$136, % SOURCE: Florida Association of Realtors

6 Supply BUY AT A 6% CAP RATE Or BUILD TO AN 8% CAP RATE

7 Florida Average Apartment Price Per Unit HISTORICAL COMPARISON

8 US Interest Rates & Florida Cap Rates

9 Apartment Sales Volume by Metropolitan Area FLORIDA MULTIFAMILY SOURCE: Real Capital Analytics, C&W Capital Markets Group

10 Florida Distress Sales AS A PERCENT OF TOTAL SOURCE: Real Capital Analytics

11 US Monthly Apartment Distress Volume CUMULATIVE DISTRESS SOURCE: Real Capital Analytics

12 US Monthly Apartment Distress Volume ADDITIONS & REDUCTIONS TO DISTRESS SOURCE: Real Capital Analytics, C&W’s Capital Markets Group

13 Florida 2010 Top 10 Buyers FLORIDA BuyerCapital Group Acquisitions (In Mil.) Number of Properties Avg. Price (in Mil.) TA RealtyInstitutional Covenant Capital GroupPrivate DeBartolo DevelopmentPrivate Fred CochranPrivate Group LSRPrivate Invesco Real EstateInstitutional Gulfstream Capital PartnersPrivate Area Property PartnersEquity Fund TGM AssociatesInstitutional Praedium GroupEquity Fund SOURCE: Real Capital Analytics

Top 10 Sellers FLORIDA SOURCE: Real Capital Analytics SellerCapital Group Dispositions (In Mil.) Number of Properties Avg. Price (in Mil.) AIMCOPublic85517 Related CompaniesPrivate Prudential RE AdvisorsInstitutional BF GroupPrivate FL Housing Finance GroupUser/ Other Ocean BankInstitutional Baucher & Co.Private Bank of AmericaInstitutional Fidelity InvestmentsInstitutional Epoch PropertiesPrivate

15 THANK YOU