Millennials have now surpassed the Baby Boomers as the largest generation in history weighing in at just about 80 million people. Unlike their parents and grandparents, this generation of workers will change jobs roughly every 4.4 years. With this amount of turnover, the prospect of taking on home ownership has become less attractive. Millennials are also making major life decisions (marriage, kids, etc.) later on in life creating a large segment of the population who would rather rent for the time being than own. Millennials tend to rent out of choice rather than necessity which has created a huge demand for Class A, resort style multi-family apartments.
South Coast has been working with Cottonwood Residential for the last several years focusing on this exact demographic and asset class. This lunch meeting will focus on where the opportunities are in the multi-family space and how we are able to participate in this New American Dream. Please join us along with Saul Dougherty, Vice President Capital Markets with Cottonwood Residential, on Tuesday, October 25th at 12:00 pm.