Report: Sales of older multifamily complexes in Florida have fallen

Updated building codes have slowed the number of transactions of multifamily properties in Florida built before 1992. 

That’s the findings of a report issued Jan. 21 by the structured finance, commercial real estate and banking research firm Trepp.

According to the report’s authors, the evolution of building codes after Hurricane Andrew in 1992 and updates following the collapse of the Champlain Tower in 2021 have helped lead to a recent slowdown on the sales volume for older properties.