Third Quarter 2026
Multifamily Market Outlook
Orange County
Tishman Speyer acquired Jefferson at Platinum Park, a 376-unit apartment community, from PGIM Inc. for $160 million, or approximately $425,532 per unit. The property was 97% occupied at sale.
By J.C. Casillas
Managing Director of Research and Public Relations at NAI Capital Commercial
Managing Director of Research and Public Relations at NAI Capital Commercial
LEASING TRENDS
Vacant units rose 8.5% QoQ and 12.9% YoY, while units under construction fell 32.3% QoQ and 47.4% YoY, signaling a sharp pullback in new supply. Asking rent edged up 1.29% QoQ and 1.78% YoY, holding firm despite rising vacancy.
SALES TRENDS
Units sold fell 45.4% QoQ but remained 28.3% above year-ago levels, while average sale price per unit declined 10.7% QoQ yet held 9.2% higher YoY, reflecting a slower quarter against a broadly stronger annual trend.
