| Walker & Dunlop VP Charlie Mentzer gave us his one word take on Atlanta's multifamily market: stabilizing. After Atlanta lost 250,000 jobs between 2007 and 2010, there's been a push to add 42,000 jobs in 2011 and 52,000 more in 2012. (In case you haven?t made the connection, more jobs = more tenants.) Average vacancy rates are now below 10% (from 11.5% a year ago), Class-A properties are boasting around 7%, and rents are increasing with fewer concessions. Charlie says Atlanta is the land of opportunities: ?Low occupancies and foreclosures over the past couple of years have pushed prices to their lowest levels in quite some time.? As the city continues to attract those relocating from the North and Midwest as well as college grads seeking apartments, the future of the Atlanta multifamily market looks bright. Find more information on commercial RE finance firm Walker & Dunlop here. |
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