Habitat's President, Matt Fiacone, was recently interviewed for Multihousing Pro Magazine about 2020 multifamily trends! Read his excerpt below:
What's old is new again: Market-rate acquisitions
With the cost of construction materials and labor still rising, multifamily acquisitions are looking more attractive than ever in 2020 compared to new builds in many markets around the country.
Having an eye on market-rate acquisitions for the upcoming year is The Habitat Company, a leading U.S. multifamily developer and property manager. “After several years of construction cost increases outstripping rent growth, the returns available on acquisitions have narrowed the gap with new development,” said Matt Fiascone, president of The Habitat Company. “Factor in the added ‘hidden costs’ of entitlement, such as taxes, inclusionary zoning requirements and other fees and risks associated with new development, and the result is positive for a strategy that favors acquisitions.”
To read the full article in its original format, please click here.