735: Big Discounts In Atlanta

Although multifamily has been difficult to acquire over the past few years because properties have been overpriced, prices are starting to correct enough for investors. Lenders are no longer able to hold on to non-performing assets and are starting to write loans down to get them off their books. Seasoned sponsors are getting back into the market and buying properties at steep discounts. Brian Sutton, founder of Two Waters Capital, is buying properties in Atlanta where he’s based. Many properties in Atlanta were acquired at the peak with floating bridge debt and are distressed.