ATLANTA—Steven DeFrancis, CEO of Cortland Partners, is predicting multifamily can win big in 2016. And he sees two key areas of focus to make that prediction a reality: increased need for a value-added approach and focusing on senior housing as a submarket.

"With the continued predicted growth in rentership demand over the next decade, coupled with growing construction and land costs and rising rents, the need to renovate and reposition existing product will become increasingly vital," DeFrancis tells GlobeSt.com. "Our current platform is primarily focused on these value-add opportunities—creating more product to meet the demand for a growing renter base that still wants the benefits of a new apartment home but can't afford the cost of the newest supply."

As for Cortland, the firm focuses on reimagining existing locations as a solution for this challenge. Through thoughtful investment in the renovation and upgrading outdated properties with high-end finishes, the firm strives to offer well-located, better-priced options that are of the same caliber as new products.