Eric Taylor, managing director of Greystone Real Estate Advisors, said that the level of investor demand is at an all-time high for affordable housing properties that his firm has marketed the past few months. Taylor’s team has offered 17 or 18 deals in the third and early fourth quarters, and he said the competition has been “unprecedented.”
“We definitely have had exceptionally competitive situations on every offering that we have brought to the market,” said Taylor. “Overall, we’ve seen some compression in cap rates, primarily driven by record-low 10-year Treasury yields, which has directly correlated to record-low interest rates.”
Read more in REBusiness Online.