Joey Tumminello with Marcus & Millichap's Institutional Property Advisors Group shares his insight on what the "smart buyers" (REIT's, pension funds, life insurance and large family offices) are buying or NOT buying. Institutional-grade real estate is Class A or Class A+ property that generally has minimal risk of deteriorating or becoming obsolete during the investment holding period because the properties are brand new, have state-of-the-art systems, and the best amenities. These type of buyers set the pace for the entire industry with buying or selling.

To contact Joey Tumminello: [email protected]

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