Secondary markets offer upside for multifamily investors

01/14/2010 | GlobeSt.com

Apartment investors who focus on IRRs will find returns in secondary markets just as good as those in the big-name gateway markets, said REIT executives speaking at the National Multi Housing Council's Apartment Strategies Conference in Boca Raton, Fla. As a bonus, they might find the long-term fundamentals are more stable than those in the biggest cities. "The IRR in Jackson, Miss., is just as competitive as the IRR in San Francisco," said Eric Bolton, chairman and CEO of Mid-America Apartment Communities. "You can compete just as well in the Southeast as you can in larger gateway cities."

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