Middle-Market Multifamily Housing Construction A Bright Spot In A Sector That’s Ground To A Halt
April 24, 2023
Article published: April 24, 2023 by Mark Gilman, Benzinga Editor
Madison Capital had the privilege of speaking with national investment publication, Benzinga, regarding the middle market multifamily sector and its current investment landscape. Click here to read the full article on Benzinga.com.
City workers who find owning a home is out of reach financially, are discovering that adding to their commute is the easiest way to find housing they can afford.
They’re ending up in middle-market, suburban rental properties that lease for $1,600 to $2,500 per month — a part of the multifamily asset class that’s one of the few success stories for investors this year.
Developers of middle-market apartments are finding demand, somewhat easier financing and less regulation have allowed them to focus on building housing with a bit of luxury and some appealing amenities.
“I’ve been saying for a long time that our middle-market product does better in recessionary times where you see more concessions and not as much rent growth,” Madison Capital Founder and CEO Ryan Hanks told Benzinga. “Someone living in downtown Nashville or Charlotte would pay $3,000 or more for an apartment but are now driving 20 to 30 minutes outside of the city to save money.”
About Madison Capital, LLC
Madison Capital Group is a vertically integrated real estate investment firm that owns, operates, acquires and develops suburban multifamily properties and self storage facilities. Madison is active in 13 states and is focused on expanding its footprint throughout the Sunbelt. Currently, Madison has over 2,000 apartment units under development or in planning and owns more than 60 self storage assets under the Go Store It banner.
Click here for more information on Madison.