Apartment Investors Target South Florida

MIAMI-Physical barriers to entry and a diminishing supply of land on which to build new apartments have been major factors in Miami-Dade County’s being a hot spot for apartment investors, according to a report just released by Apartment Realty Advisors in Boca Raton, FL.

“That’s what’s appealing to investors,” Brad Capas, senior vice president of Apartment Realty Advisors’ Florida office, tells GlobeSt.com. M/PF Research has even placed the county in the top 10 rental apartment investment markets in the country for this year, the report states.

“Investors have always looked to South Florida,” Capas says. “What’s happened recently is other options are less appealing,” because other areas of the country are overbuilt, or the downturn in the economy has affected other areas more than South Florida. “There’s a lack of alternative appealing investment markets right now.”