Ballast Rock CEO Tom Carroll on Southeast Multifamily Trends and Emerging Investment Opportunities
Article Summary
Multifamily markets in the Southeast remain resilient, with strong occupancy levels despite recent rent concessions caused by a wave of new apartment supply in major markets like Atlanta and Charlotte.
Overdevelopment during the low-interest-rate era created short-term pressure, forcing landlords to offer rent concessions to fill units, but Carroll believes the market is reaching the bottom of that cycle as concessions begin to decline.
Spring leasing season could improve property performance, as landlords gradually remove concessions and demand stabilizes across smaller and mid-sized Southeast markets.
Investment opportunities are emerging as banks tighten lending, putting pressure on weaker real estate operators and potentially creating acquisition opportunities for experienced investors focused on renovating existing apartment communities.
* Ballast Rock Asset Management (“BRAM”), Ballast Rock Private Wealth (“BRPW”), and Ballast Rock Capital (“BRC”) are operating entities of Ballast Rock Holdings (“BRH"), an integrated investment management company. Ballast Rock Asset Management is a non-registered entity. Sunbelt Properties is a wholly owned subsidiary of BRAM. BRPW is a registered investment advisor. BRC is a registered Broker dealer and a MEMBER of FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS
