Multi-Housing News Online recently interviewed Hartman Simons managing partner Summey Orr about the state of the multifamily sector. During the Q&A, Orr offered the following take on investor interest in the apartment sector:
"On the investment side, we are seeing some fatigue in the market for multifamily. The popularity of these assets versus other property types that have come out of the recession more slowly has brought a fair amount of investor competition for apartment projects, in some cases driving up prices beyond the realm of common sense. It’s not yet to the point of the mythical restaurant that’s so crowded that nobody goes there anymore, but this sector has certainly attracted a group of buyers who previously didn’t fish in this pond."
To read the rest of the five-question Q&A, visit Multi-Housing News Online.