18,000+ units of career closed volume across the highest-barrier multifamily market in the United States. Institutional disposition advisory above $10M.
The Bay Area is the highest-barrier, highest-return multifamily market in the United States. Permanent regional housing shortage prevents oversupply even in down cycles. Average rents remain among the top three U.S. metros. Cap rate compression has persisted across cycles because the structural undersupply creates pricing floors that don't exist in growth markets like Austin, Phoenix, or Nashville.
That structural quality cuts both ways for institutional sellers. The buyer universe is deeper than any other U.S. multifamily market — sovereign wealth, family offices, REITs, regional sponsors, and private equity all compete for Bay Area inventory. But execution complexity is higher. The regulatory environment, rent control overlay, ADU rules under SB-9 / SB-10, density bonus opportunities, and the increasing scrutiny of CEQA challenges all shape pricing in ways national brokers routinely miss.
Successful Bay Area multifamily disposition requires reading three things at once: the in-place income, the regulatory environment, and the buyer's view of long-term hold value. Most national-platform brokers can read the first. Few read all three.
JM Henderson CRE's founder, Jef Henderson, has personally closed 18,000+ units of institutional multifamily across the Bay Area and Central Coast over 21 years. Career highlights include:
Career multifamily volume also includes 4,000+ unit downtown San Jose assemblage and 1,000+ unit mixed-use assemblages in Santa Clara and Mountain View — among the largest off-market multifamily land transactions ever executed in Silicon Valley. View the full transaction history →
Every JMH multifamily mandate runs through the same five-stage institutional discipline.
Underwriting. Full T-12 normalization, loss-to-lease analysis, mark-to-market scenarios, expense benchmarking against submarket comparables, and explicit assumption documentation. AI-assisted comp pulls and sensitivity analysis compress the cycle from weeks to days without sacrificing rigor.
Pricing. Three-methodology valuation — income approach, sales comparable, replacement cost — with sensitivity to cap rate and rent assumptions. Pricing recommendations always include "best case, base case, floor case," with the seller's downside protected. We don't pitch a number to win the listing; we pitch a defensible range supported by current submarket data.
Marketing. Institutional-grade Offering Memorandum produced in 5–7 days (versus the 30+ days standard at large brokerages). Confidential teaser distribution to 200+ targeted buyers ranked by likelihood of bid. Full data room via Box Enterprise with audit logs.
Negotiation. Open, transparent communication with the seller throughout. No black-box "best and final" pressure tactics. Counter-offer strategy is built collaboratively with the seller, not imposed by the broker.
Close. Full deadline tracking via a shared Notion deal pipeline. Daily status during due diligence. Post-close documentation in the seller's preferred system. Nothing falls through the cracks.
Independence means every recommendation aligns with the seller's outcome. No proprietary funds competing for the deal. No internal compliance friction. No broker bullpen with information leaks.
Confidential discussion. No retainer. No obligation. The first conversation is a focused 30-minute read on your asset's current pricing window, the buyer universe, and the execution path that fits your timing.