MARCH 30, 2012
While the single-family housing market remains stagnant, demand for apartments is on a tear, making the multifamily segment very attractive for non-traded REIT investors, say executives at Orlando-based CNL Financial Group.
Jeff Shafer, group president of CNL Securities Corp., who is responsible for CNL’s capital-raising activities, says CNL looks for alternate real estate assets that can produce growth and capital appreciation.
“Suddenly, you have a tremendous demand for multifamily units,” says Rick Coe, chief investment officer at CNL Financial Group. “In the past year, the vacancy rate of multifamily housing slipped to 5.2 percent compared to a historical average of 6.5 percent to 7 percent.”
Coe says the burgeoning demand for rental housing is fueled in part by… Read more…