September 30, 2016
Opportunistic apartment buyers are coming to Houston in search of good deals. According to Todd Marix with HFF, many of the investors, especially those from out of state, like the recovery aspect of the Bayou City and its suburbs.
“These buyers have patient capital and want to buy in Houston at an advantageous time,” Marix said. He added that the investors are willing to accept lower rents for a couple of years, with the idea that the apartment market will recover ground in 2018. Most of the buyers, one of which is Advenir of Miami, FL, are targeting Class B and Class C properties.
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Tags: Apartments & Multifamily