Interra Claims Leadership in Middle-Market Apartment Deals
Interra Realty said it has closed more middle-market multifamily transactions than any other brokerage in the five-county Chicago metro area at midyear, according to data from CoStar Group. Halfway through the year, Interra has already surpassed its total transaction volume for all of 2021, when it closed a record $382 million in transaction.
Interra was both the top buyer broker and seller broker during the period, per CoStar. As buyer broker, Interra closed more than three times the total for the No. 2-ranked firm, which had $80 million in sales. As seller broker, Interra posted 50% more sales volume than the second-ranking firm in this category.
“Looking ahead, we see plenty of runway for this segment of the local multifamily market, which remains attractive to both local buyers and out-of-state investors in search of higher yields relative to coastal and Sun Belt markets,” said managing principal Jon Morgan.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).