Anyone have any knowledge on the Orlando market? Not really looking at a specific property type, but I am seeing valuations being more reasonable across the board there compared to other MSAs. Anyone working on deals here? Just mainly looking to get a sense of how the market is looking going forward. Growth prospects? Anything negative about it? I know some of you guys are based there or do deals there, so thought I'd ask.
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I'll bite. Speaking from a multifamily perspective
It's getting hit really hard compared to the other sun belt markets. Disney layoffs and overall reductions in travel putting a hurting on the south. Downtown in a bad spot because it just had a run of deliveries. Vacancy up maybe 300 bps or so. Rents down 4-5%
What about when Covid passes over? Im really looking more like 5-10 years out.
Long term I think it will be just fine. Who state of FL will be really. Just have to be aware that it's going to struggle for the next year or two most likely.
Feel free to PM me, spent a lot my career in Florida, happy to chat.
Personally, I think Florida and Texas are amongst the two best regions for the next few decades, Orlando is well positioned in the state.
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