A Look at Investors' Appetite for Multifamily in 2018

Siegler: “We believe there is much more room for measurable rent growth with the older properties, especially after they are improved and modern amenities are added.”

SAN DIEGO—There’s a distinct supply/demand imbalance for apartment assets nationally and in the western US markets, so investors must be creative to find opportunities, Pathfinder Partners‘ senior managing director Mitch Siegler tells GlobeSt.com. As we recently reported, the firm, which specializes in opportunistic and value-add multifamily/residential real estate investments, recently added two Phoenix properties valued at more than $32 million to its multifamily portfolio: the Vintage Apartments in Gilbert, AZ, acquired for $18.6 million; and Avalon Apartments in Northeast Phoenix, near the 24^th and Camelback corridor, purchased for $13.7 million.

Both properties fit the firm’s investment philosophy of acquiring value-add multifamily properties in select mid-tier cities throughout the West. We sat down with Siegler to discuss his firm’s strategies and target markets as well as the multifamily outlook for 2018.