ATLANTA—Brett Kingman has long called Georgia home—he graduated from the University of Georgia—but Multi Housing Advisors (MHA) sent him packing to Tennessee to open a new branch office. Kingman joined MHA in 2011 and established the Nashville office in 2015.
Kingman, senior director at MHA, focuses on business development for the firm, market positioning of assets for listing assignments, as well as all aspects of the transaction process for Tennessee. Since joining MHA, he has been involved in the sale of over 9,500 multifamily units with an aggregate sales volume in excess of $475 million.
With Nashville just 250 miles north of Atlanta, MHA saw the opportunity from several perspectives. GlobeSt.com caught up with Kingman to talk about those opportunities in part one of this exclusive interview. Be sure to come back to tomorrow's Atlanta edition for part two.
GlobeSt.com: You recently moved to Nashville to open a new office for Multi Housing Advisors. Why did you feel Nashville is a good fit for MHA?
Kingman: Nashville was a logical expansion market for MHA as it's the state capital of Tennessee, which is contiguous to our historical footprint. While covering the territory from Atlanta, we recognized a unique opportunity in Nashville and throughout Tennessee to provide new and existing clients in the private capital space with highly sophisticated service and materials, as well as a robust regional platform. As Nashville continues to expand rapidly, we are confident it will be a strong market for MHA.
GlobeSt.com: What are the strengths and weaknesses of the Nashville multifamily market?
Kingman: It's tough to point to a weakness in Nashville right now. There are a couple of infill pockets that have raised potential supply concerns with some investors, but aside from that, the city's multifamily market is extremely healthy.
The underlying performance fundamentals are very strong, fueled in large part by quality jobs being added regularly. As highly educated young professionals relocate to the area to fill those jobs and enjoy the desirable quality of life that Nashville offers, the multifamily market will continue to thrive. Additionally, Nashville possesses quality local and regional developers and operators, which along with heightened interest from institutional equity, are leading to exciting new developments.
Be sure to come back to the Atlanta edition tomorrow to find out where the opportunities lie in Nashville multifamily and Kingman's predictions for the rest of 2015.
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