Lack of New Construction Bright Spot in Multifamily Market, says Hendricks & Partners' Cole Whitaker

ORLANDO, FL- The downturn in new construction in Central Florida has a bright spot---there are fewer rental apartment communities underway which ultimately should help a softening rental market.

That’s the word from Cole Whitaker, (top right photo) Florida partner at Hendricks & Partners, one of the nation’s largest private capital networks of advisors and systems.

“The rate of population growth has slowed and more people are rooming together or moving back home with their parents to save money. These factors along with the tough job market are creating increased concessions in the rental market, said Whitaker.”

“Construction of new multi-family properties has slowed due to the lack of construction financing coupled with more expensive equity available for multi-family investments.” he said. “This present day drop in new construction will help rental property owners in the long run.”

Hendricks & Partners currently offices in more than 40 U.S. cities, primarily in western states and plans to open 25 offices in the eastern seaboard region, including offices in Miami, Atlanta, Jacksonville and the Carolinas.

For more information, please contact:

Cole Whitaker, Partner, Hendricks & Partners, 407-256-9594
Larry Vershel, Larry Vershel Communications 407-644-4142