Return of Renters?

The multifamily bandwagon is filling up these days, but as I mentioned before, it can be very misleading to take a few national statistics or headlines and blow them out of proportion.

That said, these two recent articles from the Atlanta Business Chronicle showcase some interesting anecdotal evidence on apartment activity and investment.

"Atlanta-based Pollack Partners LLC, in partnership with New York-based investment firm The Goldman Sachs Group Inc., has raised $56 million to acquire and develop apartments in the metro area and the Southeast. With additional investment from third parties and debt, Pollack Partners hopes to leverage the fund into $800 million to $1 billion worth of multifamily projects."

Mixed-use momentum also continues to build in Atlanta and in other major markets.

"Now Coro is planning a $55 million 20-story, 155-unit luxury apartment tower, which will include 9,100 square feet of office/retail space."

Return of renters: Money pours into apartments
Developers ditch condos in favor of apartments

The piece quotes several area developers who are placing some large bets on the strong industry fundamentals. Some of these firms include: Pollack Partners, Williams Realty Advisors, Lane Company, Coro Realty Advisors, Wood Partners and Julian LeCaw.

These projects will not come online into the Atlanta market overnight but is exactly what keeps multifamily fundamentals consistently favorable for investors and a relatively predictable market to serve versus other segments of real estate.