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5 th Annual Tampa Bay Area Mid-Year Multifamily Update

“The Rental MF Market Crystal Ball – Where Do We Go From Here - Higher”. 5 th Annual Tampa Bay Area Mid-Year Multifamily Update. Tampa Westshore Marriott Hotel June 21 st , 2012 Sponsored by:. Bay Area Apartment Association TRIAD Research & Consulting, Inc. OCCUPANCY TRENDS. triad.

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5 th Annual Tampa Bay Area Mid-Year Multifamily Update

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  1. “The Rental MF Market Crystal Ball – Where Do We Go From Here - Higher” 5th Annual Tampa Bay AreaMid-Year Multifamily Update Tampa Westshore Marriott Hotel June 21st , 2012 Sponsored by: Bay Area Apartment Association TRIAD Research & Consulting, Inc.

  2. OCCUPANCYTRENDS triad

  3. RENTALPRICINGTRENDS

  4. 2012-13-14 PIPELINE & NEWCONSTRUCTION REPORT

  5. BAYAREAMULTIFAMILYTRENDS HILVACANT ZONED LAND OPPS IN BRANDON, DWNTWN, SOUTH COUNTY & WS– ACTIVE NEW CONS IN TAMPA PALMS – OCC RESTABLIZING UP ±2% & RENTS UP 2% - 4%, MARKET RECOVERY POSITIVE MARKET WIDE – SOME SUBMARKETS ±95% PINONLY CONS IN GATEWAY & URBAN ST PETE & BAY PINES – OCC STABILIZING WITH MARKET RECOVERY AROUND ±93% WITH SOME MARKETS ±95% PASONLY ACTIVE NEW CONS COUNTY LINE ROAD –MARKET RECOVERY ABOVE AVERAGE 93%-94% – NEW CONS CHALLENGED BY HIGH LAND COSTS - IMPACT FEES REDUCED – FEW SITES SOUTH CENTRAL & SW COUNTY POLLAND AVAIL/AFFORD FOR FUTURE PIPELINE – NO NEW CONS - NO ACTIVITY AT THIS TIME – OCC RECOVERY POSITIVE - ±92% GLOBAL TRENDSNEW CONST SLOWED BY FINANCING DIFFICULTY & LAND COSTS - DEMAND GREATER THAN EVER DUE TO DISTRESS SF & ECONOMIC TIMES - RECOVERY TO 94%-95% NOW AND 95%-965 IN 6-12 MONTHS FORECLOSURES & JOB CHANGES CREATING NEW DEMAND FOR RENTALS – EMPLOY STILL DOWN – REGION STRONGER THAN MOST OF FLORIDA - FINANCING THE CHALLENGE – PLAYERS W/$$ WILL PLAY – ACQ STILL STRONG

  6. THANK YOU Sponsored by: 5th Annual Bay Area Mid-Year Rental Multifamily Update

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