SunTrust Sees Lending Up Outside ATL
We got to sit down last week with SunTrust SVP Jim Miller, who handles commercial loans for the bank here. Jim tells us, while lending is picking up, developers and buyers are still looking outside Atlanta for product. "Atlanta's a lagging market right now," he says. "Unfortunately, in the past year or so, they've been going elsewhere." Jim spoke with us during our Atlanta Capital Markets Summit last week. And he says the biggest issue at this point is rising construction and materials costs. "What that really means is the rent growth hasn't really risen to offset construction costs."