Matt joined the firm in 2007 and handles all acquisition, disposition and financing activities, including sourcing, underwriting, market analysis, and due diligence for new property acquisitions.
Have your criteria for acquisitions changed in response to the pandemic?
I don’t think at our acquisitions criteria has changed at all due to the pandemic. We’ve always been focused on targeting well-located assets with operational and market upside in suburban locations in growing secondary and tertiary markets. We continue to be focused on acquiring assets in pro-growth, business-friendly markets in the Midwest and Southeast. That strategy has continued to suit us well as we navigate our way through the pandemic.
Are there fewer acquisition opportunities to consider as a result of the current economic climate?
The market has remained very active. Obviously, there was a slow down in the spring and early summer months. But this fall our acquisitions pipeline remained as full as it has ever been. People are bullish in the multifamily sector. Interest rates are low and there’s a lot of private capital in the market seeking investment opportunities in multifamily, which has kept the market very competitive.
Timberland Partners purchased properties in some new markets this year. What prompted that?
We’ve had our eye on markets like northwest Arkansas and Huntsville for a long time. Both of those markets have been realizing robust demand fundamentals for the past several years. In some of these attractive, tertiary markets, it just takes awhile to find the right opportunities due to the limited amount of supply.
Has your outlook on real estate investment changed in the last six months?
No, I can’t say that it has. For the past several years, we’ve been focused on acquiring quality, well-located suburban properties in secondary and tertiary markets throughout the Midwest and Southeast with strong demand fundamentals. That strategy has served us well, both pre-pandemic and throughout 2020.
