Orlando is a hot market for neighborhoods built entirely for renters
TAMPA, FLORIDA (July 28, 2022) - Luis Elorza, managing director of Northmarq's Tampa investment sales team, shared his insights on the increased demand for build-to-rent (BTR) communities around Central Florida in an article recently published by the Orlando Sentinel. With BTR communities rising from 3 percent of the inventory of major rental home providers in 2019 to 26 percent last year, Orlando and Central Florida represent prime targets for developers.
In the story, Elorza states, "If you look at Tampa and Orlando, that’s the vast majority of the [built-to-rent] that’s being built in the state right now."
The article also notes Northmarq's count of 335 BTR units (most built within the last 10 years) in the Orlando MSA. Another 1,174 units are under construction and 824 units are planned, bringing the total of new communities in the upcoming years to eleven.
Other topics include:
- Benefits for developers
- Renter appeal
- Demographics driving the industry
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.