After a period of historically strong performance in nearly every fundamental, Texas’ apartment industry is finding an equilibrium just below its post-recession crests. With rent growth beginning to slow and concessions returning to the market, many developers and investors are treading more cautiously and focusing more squarely on niches they know will generate returns.
Bill Jackson, senior vice president and managing director, NorthMarq Capital, says that his Dallas office has focused mostly on the Lone Star State’s four major markets—Dallas, Houston, Austin and San Antonio—over the last few years. He notes that while these areas will continue to be bastions for many types of growth—urban infill and suburban—some of the smaller markets once sought for development are now returning to their pre-recession statuses.
Read more...Past Peak | Multi-Housing News Online