ATLANTA—Atlanta's multifamily market is still hot on the development front. But what are investors doing? What sort of buyers and sellers are most active at this stage of the cycle?

Josh Goldfarb, vice chair in Cushman & Wakefield's Atlanta office, offered his insights in part two of this exclusive interview. You can still read part one: Why We May See More Multifamily Portfolio Sales in 2018.

GlobeSt.com: What sort of buyers and sellers will be most active in 2018?

Goldfarb: We believe a greater influx of high-net-worth investors will emerge as buyers, because real estate is a relatively stable investment that offers higher returns than equities.

GlobeSt.com: What kind of assets are buyers most interested in? What sort of inventory of that product is available?

Goldfarb: The pendulum is likely to shift from sellers offering value-add opportunities to developers and merchant builders selling newly constructed communities. Some buyers are even actively seeking new-construction opportunities still in lease-up hoping to achieve a greater performance than the developer-seller.

GlobeSt.com: Are you still seeing condo conversions?

Goldfarb: Recently I heard about the first condo conversion sale occurring in Atlanta in several years. This is the first of the cycle in Atlanta and represents ratcheting up of value as pricing in the single-family housing market continues to climb. From today's view looking at 2018, all indications point to a healthy apartment investment market.