While cap rates have increased, the rise hasn't been as dramatic for retail.
Sixty-five of the more than 90 units would be reserved for renters earning 60% of the neighborhood's median income, plus other top Atlanta CRE deals.
Private equity, smaller investment funds, family money and high-net-worth individuals have been active in buying Atlanta office.
The firm's pivot to third-party comes after it got 1M SF in third-party management work last year.
Niche real estate groups are beneficial for specialized real estate. But since there are not many of them, there are not a lot of people to ask for help.
Despite high interest rates, difficulty obtaining financing and a development slowdown, brokers expect end-of-year momentum in deal volume to carry into 2024.
A rapid drop in new apartment starts is expected to constrain supply in the coming years, making existing properties a more appealing investment.
Trammell Crow expects the project to deliver in 2026 and generate $400K in annual taxes.
Tax-exempt groups across the country are increasingly looking to buy commercial properties as prices have fallen.
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