PHILADELPHIA, PA—Multifamily properties are seeing robust activity around the country, but not everyone is focused on top quality luxury rental properties. Philadelphia based LEM Capital specializes in multifamily properties where a value-add strategy can be successful.
“What we've been studying for the past seven years is the demand and supply numbers for class B housing,” says Jay Eisner, a partner and co-founder of LEM Capital. Four million millennials will turn 22 every year between now and 2025, and the overhang of $1.4 trillion of student debt will keep millennials in apartments longer, he says.
At the other end, baby boomers are “the largest segment of apartment growth over the last ten years,” he says. “We continue to see growing demand for multifamily.”
You can watch the complete video interview with Jay Eisner in the player below.
|The reason LEM focused on class B multifamily is that almost all new supply in the market is class-A “luxury style” housing.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
