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The mercury is boiling, but our headline isn't about the weather. It refers to multifamily demand in Baltimore City, which Time Group prez Mark Caplan says is the best in central Maryland. (Shameless plug alert: Mark will speak at our Baltimore Multifamily Summit on July 28.)
Time Group, Mark Caplan, president, Class-A, multifamily, Baltimore City, demand, strong, investors, cash flow, returns, sensible, construction, selective, constrained, supply, BRAC, on-base, housing
?High-rise, Class-A product in urban locations is what investors are chasing the hardest,? he says. ?That being said, there's a tremendous amount of capital looking for all things multifamily." Apartments offer investors stable cash flow and returns, Mark says, making it a sensible investment in the wake of the recession. But that doesn't mean there's a rush to new construction: ?Ground-up development is being pursued selectively in areas with little existing supply and good job growth prospects,? he tells us. ?The good news is that this area didn't go as crazy as others in terms of oversupply during the boom.? Whether or not to bank on BRAC for demand depends on the location, Mark says (look to see if a base offers on-campus housing, which Aberdeen Proving Ground doesn't). Don't forget to sign up today to see Mark and others at our first-ever Baltimore Multifamily Summit July 28.
Related Topics: Baltimore City