1. Triad Apartment Market
2017
Triad Apartment Market
Overview and Outlook

2. Historical Transaction Volume
Triad Transaction Trends
Historical Transaction Volume
Sale Price/SF
$576.4 M
$592.7 M
$340.8 M
*Includes sales $1 million and greater
Sources: Marcus & Millichap Research Services, CoStar

3. 2016 Triad Sale Data *Includes sales $1 million and greater
Sources: Marcus & Millichap Research Services, MPF Research, CoStar

4. Completions (000s of Units)
Triad Apartment Construction Trends
Completions (000s of Units)
* Forecast
Sources: Marcus & Millichap Research Services, MPF Research

5. Apartment Vacancy Rate Trends
Average Vacancy Rate
* Forecast
Sources: Marcus & Millichap Research Services, MPF Research

6. North Carolina Apartment Vacancy Trends by Class
Average Vacancy Rate
Trailing 12-month average
North Carolina includes Greensboro/Winston-Salem, Raleigh-Durham-Chapel Hill, and Charlotte
Sources: Marcus & Millichap Research Services, MPF Research

7. Average Effective Rent Growth Trends
+6.1%
+6.0%
+5.2%
+3.8%
Y-O-Y Percent Change
* Forecast
Sources: Marcus & Millichap Research Services, MPF Research

8. Average Price per Unit (000s)
Apartment Pricing Trends
+38%
+6%
+58%
Average Price per Unit (000s)
+10%
Includes sales $1 million and greater
Sources: Marcus & Millichap Research Services, CoStar Group, Inc., Real Capital Analytics

9. Commercial Real Estate Avg. Yield vs.
10-Yr. Treasury – Spread Indicates “Buy” Window
Cap Rate Long-Term Avg.
440 bps
430 bps
480 bps
480 bps
Average Rate
200 bps
580 bps
380 bps
10-Yr Treasury Long-Term Avg.
Includes all apartment, office, retail and industrial sales $1 million and greater
Sources: Marcus & Millichap Research Services, CoStar Group, Inc., Real Capital Analytics

10. Triad Apartment Market
2017
Triad Apartment Market
Overview and Outlook