Greg Cooper J.D.
July 20, 2021
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.
At Offerd, we keep saying that the market is in great shape right now. The multifamily sector has come through a global pandemic bruised but not battered—in fact, it’s performed better than almost any corner of commercial real estate. Rents didn’t fall too far, if at all, and they’re heading upward again. A new generation and expanded universe of investors is seeking options in non-traditional metros. For multifamily property owners, this is the time to sell.
We also talk a lot about the Offerd value proposition. Building on the Acquisitions-as-a-Service (AaaS) model, we track 90,000 ‘off-market’ assets around the country, and our algorithms encompass occupancy rates, demographic shifts, neighborhood incomes, population forecasts, educational levels and more, some 10,000 different categories in all. That’s how we find the best multifamily properties to match buyer and seller, and it all happens fast.
But sometimes, it’s hard to tell the forest from the trees. So here’s a sampling of how it’s playing out in the real world of Offerd multifamily sourcing:
Late in June, an Offerd partner went under contract on a property valued at around $20m. That same partner is now close to going under contract with a $47M portfolio. Separately, another LOI was just accepted, and there’s at least a dozen more LOIs in active negotiation.
Of course, there’s more to it than numbers, even when those numbers are great. All this happens through our robust technology platform—built by our founder, data scientists and engineers—and our acquisitions team, which is made up of sourcing and transaction experts. It’s the perfect combination to power our partners’ multifamily portfolios to new heights.