Question: How does a private real estate investment group focused on the multifamily sector find the perfect off-market assets?
As we at Offerd have said before, and as known by other leaders in industry, perhaps half of all multifamily acquisitions take place off market. That means there’s usually no public listing of the property, none of the complications associated with a standard brokerage process, and never a bidding war that ends badly. We’ve covered why property owners go off market (hint: for different reasons, both buyer and seller come out ahead); how the Acquisitions-as-a-Service process is uniquely suited to enabling Principal-to Principal (P2) transactions; and served up examples of ongoing and completed deals. We’re rightly proud of tracking more than 90,000 off-market assets around the country at any given time. When investors partner with us, they find that a lot of the hard work is already done—every search is shorter, better focused and more successful.
Late last month, Offerd sourced over $698 million worth of off-market multifamily acquisition opportunities. These were not assets randomly found through searches of online listings—they were meticulously selected to meet specific target parameters set by our partners. That’s one week during a scorching summer when many investors are on vacation.
It’s generally accepted that every year, approximately half of all multifamily property transactions nationwide are considered ‘off market.’ The term is broadly applied, but it typically means the property will undergo a transfer of ownership without an exclusive listing agreement in place.