I’ve been writing about distressed assets for years--and I've witnessed some interesting strategies and even more interesting deals. But late, I’ve seen a string of so-called “highly distressed” assets in multifamily, industrial and office. It was the multifamily deals that really got my attention.
A portfolio of three multifamily assets recently traded in Atlanta for a total of $6.75 million. The value-add multifamily portfolio offers 521 units. That’s about $13,000 a door. That’s quite a basement bargain, until you consider just how “highly-distressed” these multifamily assets are.
Read more...GlobeSt.com - Highly Distressed Multifamily Beauty in the Eye of the Beholder - In the Know Article