News
Is Your Mother Into Multifamily?
October 9, 2012
It feels like everyone is getting into Charlotte's multifamily rental sector, so we figured we'd ask about your mother (in fact, how's your mama and them?). Reznick Group principal Marshall Phillips is bound to ask who else wants in when he moderates the panel atBisnow's Charlotte Multifamily Summit on Thursday at the Ritz-Carlton. | ||
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| Marshall (here with Reznick's Josh Northcutt) says the panel will also talk about sponsor profiles and the Charlotte submarkets being targeted. ?We?ll discuss what indicators they're watching that might indicate saturation in a particular area, and whether Charlotte's showing any ability to attract capital from beyond the Southeast." The panel will also explore the never-ending question of how much equity is enough, at least from the lender?s perspective. | ||
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| Charter Properties principal John Porter, one of our panelists, tells us Charlotte's multifamily rental market is headed back to the equilibrium it enjoyed before the single-family market went crazy in the mid-2000s. Banks, for their part, are going to continue to be tight with debt for the development, so he thinks an apartment overbuilding scenario is unlikely. ?Only the best of the best projects are getting debt,? John notes. ?All the boxes need to be checked.? |
