In late August, investment firm Starwood Capital Group bought 21 affordable housing properties in Florida and Texas containing a total of 4,448 apartment units. According to Mark Keatley, managing director at Starwood Capital, the firm is “confident this portfolio is well-positioned to deliver attractive risk-adjusted returns to our investors.”
That statement is particularly relevant today because many investors are having a hard time finding apartment properties that they can buy at prices low enough to give them an attractive risk-adjusted return. They continue to buy billions of dollars in U.S. apartment properties, however. To make these deals work, a growing number of investors are putting their money into higher-yielding property sub-types, including affordable housing and apartment properties in secondary and tertiary markets, according to Brian McAuliffe, president of capital markets with real estate services firm CBRE.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.