IRVINE, CA—Untapped opportunities in multifamily management, investment and development abound in many US markets, but the central-states region in particular shines with strong fundamentals, Steadfast Co.'s recently appointed president Christopher Hilbert tells Globest.com. We spoke exclusively with Hilbert about his new role at the firm, some of the challenges his firm faces and what the future holds for multifamily development.

GlobeSt.com: How do you view your new role at Steadfast, and what do you hope to accomplish?

Hilbert: I have the greatest job imaginable, which is to spend my day helping other, more talented people succeed. And with so many professionals bringing different backgrounds, educations and skills to Steadfast, we have an enviable wealth of human resources. Together, we will see Steadfast continue to evolve rapidly into a premier name in real estate, not only as an international operator, but also as a multi-sector real estate investment sponsor.

GlobeSt.com: What are some of the challenges in multifamily management, investment and development today?

Hilbert: In a few coastal markets—Seattle; the San Francisco Bay Area; and Washington, DC; among others—we are witnessing an alarming amount of capital chasing new and existing product. This has the dual effect of artificially compressing cap rates today while creating potential supply issues for tomorrow. With that said, the key is to focus on areas that differentiate Steadfast and its objectives from our competitors.

GlobeSt.com: Can you identify any untapped opportunities in these areas?

Hilbert: Opportunity abounds in many US markets, especially in the central states where there is job growth, population growth and reasonable deliveries relative to demand. Indeed, in many of the Southern and Midwestern markets, it will be a decade before new construction catches up from the building bust of 2009-2013. We believe projected demographic and macroeconomic trends will drive significant growth in the renting population for the next 20 years. Laurie Goodman, director of the Housing Finance Policy Center at the Urban Institute, stated that we are nowhere near building enough to meet demand. She continued by staying there is no question we have a shortage of housing. Steadfast will continue to focus on acquisition and development solutions that meet growing demand while achieving investor goals.

GlobeSt.com: What else should our readers know about your firm?

Hilbert: Guided by both our corporate mission and our core values, Steadfast is a loyal supporter of numerous community-outreach organizations. These groups provide a diverse range of housing and social services to the individuals residing in the communities in which we do business. Some of the outstanding non-profits we support include Young Life, Novaland, HomeWord, Thomas House, Affordable Housing Access, Orangewood Children's Foundation, Isaiah House and OC Rescue Mission.