NorthMarq's Kansas City office featured in Kansas City Business Journal: More than 5,900 KC-metro apartments delivered in 2020
Last year saw an eye-popping influx of apartment complex deliveries around the Kansas City metro area, though analysts believe this multifamily wave has crested, with more modest growth forecasted in 2021.
A total of 5,938 multifamily units from 31 projects came online throughout the Kansas City market in 2020, according to a report [PDF] from NorthMarq's multifamily investment sales team.
That figure — equaling 4.1% growth of the area's existing apartment inventory — outstrips multifamily deliveries dating back to at least 2014, per NorthMarq's data. The next highest year for deliveries, 2016, saw 4,141 new local units.
Looking ahead to 2021, the Minneapolis-based company projects less overall inventory growth, at 2.8%. Even so, representatives noted, the lower percentage does not signify a slowdown in the metro's multifamily market, and still compares favorably to historic averages.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.