Land prices in many markets, including areas such as Austin, and for developers looking to expand their build-to-rent portfolios, have seen quite the surge.
Northmarq's Scott Lamontagne, managing director, investment sales, said he recently announced via email a "Coming Soon" blast for land that within 48 hours had five bids that were roughly $500,000 above the list price.
"It didn't have any other info other than 'Coming Soon,' he said, speaking on a panel at IMN's Build-to-Rent East Conference in Nashville on Thursday.
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