12C — April 26 - May 9, 2013 — Spring Preview — Mid Atlantic Real Estate Journal
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M ultifamily
By Robert Holland, The Kislak Company, Inc. Traditions, Transitions and Trends
T
o thrive and succeed for 107 years, a compa- ny has to be prepared
Company, Inc., for 29 years, and you might think that there are no surprises. In
determination. And yet, in today’s world, I have to ad- mit it is surprising to find a
pany, Inc., I have gained new perspectives and developed even greater appreciation. Since 1906, The Kislak Company, Inc., has skillfully navigated the ever-changing real estate market, and we have seen time and again the wisdom of investing inmulti- family housing. Fortunately for all of us, despite the continuing market volatility and economic uncertainty, the multifamily real estate story is one of that remains positive. And even more im- portantly, our team has been ready to make the most of
the opportunities.
This is a good time for buy- ers and sellers. Sellers are obtaining high prices and, thanks to low interest rates, buys are able to pay more and still get the investment returns they are looking for. At this time, all indications are that the government will keep interest rates low at least until 2015. The low interest rates also mean that real estate rep- resents a far more attrac- tive investment than such options as bonds, CDs and pass book accounts. We are seeing many of those vehicles yielding all-time lows – near zero percent – and that is not likely to change in the near future. In addition, more and more people are renting, some by choice and some by chance. For some, it may be too difficult to meet the quali- fications for a mortgage. In other cases, we’re seeing people decide to stay renters and wait for home prices to come down. As the number of renters increases, the appeal of apartment ownership is further enhanced. In our primary markets of New Jersey, Pennsylvania, New York and Delaware, the interest in multifamily properties is very strong. In 2012, Kislak closed nearly 90 transactions, with a total value of $300 million. That is a lot of activity and I fully expect 2013 to bring even greater success. I firmly believe the multi- family real estate arena can also be a great career choice in today’s job market. There are opportunities to succeed and much of it depends on a person’s own dedication and drive. At Kislak, we start our sales professionals off with a training program and for me, it’s truly exciting to see new members of our team become confident, take off and grow. The Kislak philosophy is all about building relationships and trust – not for a year or two, but for a career. Robert Holland is presi- dent and co-managing director of The Kislak Company, Inc. n
for change and ready to adapt. And for that to happen, its people have to be smart, savvy and resourceful – just the kind of people we have here at Kislak.
I firmly believe the multifamily real estate arena can also be a great career choice in today’s job market. There are opportunities to succeed and much of it depends on a person’s own dedication and drive. — Robert Holland
some ways, that is true. I know that every day and on every deal, I can count on being supported by people who deliver the powerful combination of integrity and
corporate culture that genu- inely fosters a sense of family and encourages individual achievement. In the year since taking on the duties of president of The Kislak Com-
Robert Holland
Many of you know that I have been with The Kislak
CELEBRATING OUR 107 TH YEAR
Investment Real Estate Brokerage
Recent Multifamily Sales
SOLD
SOLD
SOLD
Glenolden, Pennsylvania 174 Units & 3 Commercial $13,500,000
Dover, New Jersey 100 Units $11,450,000
Scranton, Pennsylvania 137 Units $8,000,000
SOLD SOLD
SOLD
Union City, New Jersey 67 Units $6,000,000
Elizabeth, New Jersey 95-Unit Portfolio $5,025,000
Highspire, Pennsylvania 176 Units $5,900,000
multifamily. retail. office.
www.kislakrealty.com 732 750 3000
The Kislak Company, Inc.
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