While 2021 was a record year for multifamily investment sales, brokers see no sign of a slowdown. Some dealmakers anticipate that 2022 could be an even bigger year. In 2021, U.S. multifamily property and portfolio sales nationally totaled $335.3 billion, up 128 percent over the prior year, according to Real Capital Analytics. In 2021, Chicago-based Interra Realty sold or put under contract more than $527 million of apartment properties on behalf of clients, representing just under 3,000 units. Brad Feldman, senior managing partner, says that while some of those transactions carried into 2022, the total amount sold or under contract so far this year is more than 83 percent of the 2021 sales total. In one particular deal in 2021, Feldman represented a family trust in its sale of a Chicago multifamily property for the first time in 50 years. Situated in the city’s Lakeview neighborhood, the building features 21 apartment units and two commercial spaces. A private buyer paid $5.2 million for the asset and plans to renovate the units, hallways and common areas. Feldman completed about 30 showings and received more than six written offers. While today’s market tends to favor sellers, both sides of the transaction are …
