by Joe Stampone | Aug 30, 2023 | Multifamily, Value-Add
The value-add multifamily (“VAM”) business was the darling of real estate investing over the past decade. In a zero interest rate environment where capital flooded the space, it was impossible to do wrong. The more you bought and the more aggressive floating rate debt...
by Joe Stampone | Jun 26, 2023 | Asset Management, Multifamily, Value-Add
We recently acquired a 256-unit value-add deal in Savannah, GA. Despite being a relatively new asset (2015 construction) and performing well (95% historical occupancy), we intend to upgrade and reposition the property, targeting rents approximately $250 above the...
by Joe Stampone | Nov 23, 2022 | Career, Multifamily, Value-Add
When I look back at my time at Atlas over the past 11 years, the mistakes we’ve made have primarily been selling multifamily assets too soon. Selling class B assets in Tampa or Salt Lake in 2016/17, for example. These mistakes inspired me to put a note on top of the...
by Joe Stampone | Mar 20, 2022 | Market News, Multifamily, Value-Add
It’s no secret multifamily valuations are through the roof with cap rates at all-time lows as capital pours into multifamily real estate, especially in high-growth southeast markets. In addition to cap rate compression, we’re experiencing unprecedented rent growth,...
by Joe Stampone | Feb 26, 2022 | Value-Add
I was talking with a colleague recently about the differences in our two primary investment strategies; class B/C value-add and ground-up development within Opportunity Zones. These are two opposite ends of the apartment spectrum. He made a comment that he loves the...
by Joe Stampone | Feb 14, 2020 | Asset Management, Innovation, Multifamily, Technology, Value-Add
Direct to consumer brands (think Harry’s, Warby Parker, and Casper) have stolen market share from the incumbents. Their success isn’t because they have a slightly better product, it’s because they are obsessed with connecting with the customer. Real estate...
