Multi-Housing News Online recently interviewed Hartman Simons managing partner Summey Orr about the state of the multifamily sector. During the Q&A, Orr offered the following take on investor interest in the apartment sector:
"On the investment side, we are seeing some fatigue in the market for
multifamily. The popularity of these assets versus other property types
that have come out of the recession more slowly has brought a fair
amount of investor competition for apartment projects, in some cases
driving up prices beyond the realm of common sense. It’s not yet to the
point of the mythical restaurant that’s so crowded that nobody goes
there anymore, but this sector has certainly attracted a group of buyers
who previously didn’t fish in this pond."
To read the rest of the five-question Q&A, visit Multi-Housing News Online.