Excerpted from GlobeSt.com story.
TAMPA — A Franklin Street broker who recently completed the sale of a “workforce” housing complex here explains the several factors behind continuing investor demand.
“This includes a fear of oversupply in the Class A+ new constructions, a lack of construction in apartments and single family for the workforce segment, and a lower perceived downside risk.” Darron Kattan, managing director of multifamily investment sales at Franklin Street’s Tampa office, tells GlobeSt.com.
“The common thought is that there are only so many young professionals making six-figure salaries and willing to pay the rents at the newest communities, but there is no shortage of the masses of people looking for clean and reasonably priced living,” he adds.
For full story, visit https://www.globest.com/2019/01/03/class-a-multifamily-too-much-of-a-good-thing/