The Real Deal Miami

Think small, apartment investors are told

January 14, 2010 10:38AM

Look to the second- third- and fourth-tier markets to profit in multifamily housing investments, executives advised investors at an industry conference in Boca Raton. The first day of the National Multi Housing Council’s Apartment Strategies Conference was marked by optimism, but only for investors who examine the entire national landscape of opportunities. For example, profits from a property in Jackson, Miss., are just as good as those from one in San Francisco, said Eric Bolton, chairman and CEO of Memphis-based Mid-America Apartment Communities. He spoke at the Boca Raton Resort & Club and was joined by Mark Alfieri, COO-multifamily with Dallas-based Behringer Harvard, who said that while unemployment continues to be a serious concern, rents should rise significantly before the end of the year. [GlobeSt]