JLL Taps Apartment Guru
After a corporate stint at Archstone Communities, Mark Peppercorn is back on the brokerage side selling multifamily full time with JLL in Denver. He tells us that he joined JLL for two reasons: 1) to head back into the brokerage world; and 2) so he didn't have to relocate from Denver. (People in the other 49 states never meet Denverites, since they're all still here.)
Mark is the latest capital markets hire at JLL Denver (after investment sales gurus Patrick Devereaux and Jason Schmidt from Cushman & Wakefield). He tells us that there is still plenty of capital flooding Denver for apartments, which is why the price has been shooting up. "That should keep pressure on pricing," he says. With new projects coming underway (such as Edward Cos' Prospect Park development), Mark says the pace of rent growth (accelerating to 8% this year) should moderate in the coming months. But Denver's job growth will continue to attract investors here.
