Why Atlanta Has A National Multifamily Advantage
August 30, 2017 | Jennifer LeClaire | GlobeSt.com
ATLANTA—Employment growth is positive nationwide—but Atlanta, Florida, Las Vegas and Nashville are reporting robust growth. That bodes well for the multifamily market in these areas.
That’s according to ARA Newmark’s Q2 2017 Multihousing Market Overview. Yields remain stable throughout the country at 5.6%, with secondary and tertiary markets primarily in the Midwest and Southwest offering the highest multifamily yields.
“We anticipated 2017 to be very similar to 2016 in terms of deal flow—slow to begin the year, and picking up substantially in the second half,” Blake Okland, vice chairman and head of US Multifamily at ARA Newmark, tells GlobeSt.com. “So far that’s been the case this year, too, with 1Q being very slow and a 25% year-over-year pick up in 2Q. In 2017, the slow start to the year was primarily driven by the election results and the subsequent broader capital markets reaction to it. In addition, buyers were full on multifamily and the lack of deals on the market in early 2017 contributed to less trades.”
