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US investors are shifting their sights to Mexico City, where the market is largely untapped with growing high-end demand.
America’s largest apartment manager, Greystar, is developing and planning 3,000 apartments in Mexico City, the Wall Street Journal reports. Two former Greystar execs have formed the private equity firm Hasta Capital to capitalize on building multifamily units in Mexico.
Much like the US, investors expect young, middle-class professionals to begin moving back to urban areas and to spur a multifamily boom in Mexico as it has in the US these past years. “I think that’s going to be a product that is going to explode in Mexico, Chile and throughout the region.…The demand is huge,” says Paladin Realty CIO Randall Loker. [WSJ]
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