Kingman: I still see plenty of opportunity for investors here, particularly in some of the emerging infill markets like East Nashville, Berry Hill, and Melrose, as well as some of the closer in suburbs like Hermitage, Donelson, Antioch, and Bellevue. In this areas there is a large rent disparity to the intown markets, yet the locations still provide residents with quick and convenient access to work and downtown amenities.

Pricing has certainly escalated over the past few years, but interest rates have remained low, while rents have been increasing significantly. All of that continues to be supported by strong economic and population growth. There are also some opportunities in the affordable housing space as rents on conventional assets continue to escalate throughout the MSA.

GlobeSt.com: What are you predictions for the Nashville multifamily market for the remainder of the year?

Kingman: On the operations side, I expect rents to continue to rise and occupancies to remain high. There will be a decrease in the number of new developments announced as the market prepares to absorb the new supply delivering over the next 18 months. I also expect transaction volume to increase in the second half of the year.