The third quarter has revealed continued strength in the Southwest Florida multifamily market. Capitalization rates have been steady for investors, and buyer demand has continued to be strong. While construction activity has remained active, we believe it is slowing down as recent apartment deliveries are entering the market. We are seeing a decrease in actual rental rates, which could cause a slight correction in asking rents in the future. If market conditions continue to trend in this direction, we expect values to decrease slightly but remain stable at current levels in the near future.
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