Joseph Gordon
Every month, we reach out to multifamily industry leaders in order to gain their perspective on the market. This month, we looked forward to 2022 to get their thoughts on what markets and trends will be on the rise next year.
Jim Butz – President/CEO of Jefferson Apartment Group
Jefferson Apartment Group (JAG) is focused on acquisitions and new development in all markets east of the Mississippi. However, within that geography, we continue to see strong job growth, and therefore rent growth in the Florida markets of Tampa, Orlando and Broward/Palm Beach counties of South Florida.
In addition, the Raleigh and Charlotte, N.C., markets continue to outperform by attracting top investment firms and technology companies to these cities. The quality of life together with the educational institutions draws employers.
However, one cannot neglect the job machines in Washington, D.C., and Boston where government, technology and sciences create new high-income jobs.
Andre Soroudi — EVP, Acquisitions/Development for CGI+ Real Estate Investment Strategies
We are continuing to see tremendous demand for primary suburban locations and expect this trend to sustain through 2022. More specifically, these suburban locations offer an attractive alternative to people that have more flexibility with their work moving forward and offer a similar local amenity base to more urban locations, such as good restaurants, cultural events, activities, and shopping, but at a more affordable price point. We also see a resurgence of A-located urban multifamily. As COVID-19 continues to wane, more and more people will look to return to these locations that offer unique lifestyle amenities difficult to replicate. B-located urban real estate will continue to struggle as renters have more options and new properties delivered over the last two years continue to stabilize.
Matthew Pavlovich — Principal/EVP, Acquisitions for Mount Auburn Multifamily
We believe the Sunbelt will continue to see increased demand for acquisitions and development. New allocations are rotating to secondary high-growth markets that have been resilient throughout the pandemic and show promising signs of continued growth.
