Since its founding in 2004, Milestone Group has completed more than $10B in multifamily transactions. You don't bring home that kind of bacon without a robust strategy to keep investors happy, and CEO Rob Landin shared his tips for keeping multifamily returns high. Want to pick Rob's brain even more? Hear from him and other multifamily experts at Bisnow's Multifamily Annual Conference South event on July 21.
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1. Identify specific target markets.
Rob tells us the middle multifamily market continues to thrive even in areas like Houston, where Class-A space has softened. Milestone succeeds with mid-market investments in the Sun Belt where populations are booming (like Broadstone Vista Ridge in Lewisville, above).
2. Anticipate growth areas.
Urban flight holds value for good reason. The strong migration of corporations and individuals to markets like DFW allows investors to drive rents and value to satisfy demand.
3. Stick to the sun.
Milestone deals primarily in the Sun Belt market for good reason. Study after study shows that Millennials are flocking to Texas, Nashville, the Carolinas, Arizona and California in higher numbers than ever before, and they're all looking for a place to call home.
4. Keep an eye on capital markets.
The equity markets appear to be deep, Rob tells us. As the Treasury stays at a low level, there are a lot of foreign and domestic capital transactions. Lenders are being more prudent than in past cycles and are moving toward debt yield requirements.
Want to know more about Milestone and multifamily trends? Get tickets to BMAC South, Bisnow's all-day conference July 21. Register here.
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