CAPRE’s New Jersey Apartment Summit Preview: “We’re Late in the Cycle but We’ve Been Late in the Cycle for a While”

JERSEY CITY, NJ -- Adam Altman is one of three founding partners of The KABR Group, an opportunistic buyer of real estate and debt. The KABR Group specializes in acquiring assets from special servicers, financial institutions, and global and regional banks. The KABR group has current holdings approximating 3,000,000 square feet of office space, 3,000 rental units, over 500,000 square feet of retail and industrial space, and is in the process of developing over 1,000,000 square feet of multifamily and retail space in the Jersey City market.  In addition, the firm has purchased and worked through hotel debt and broken condo properties.  Mr. Altman is also involved with the management and leasing of the properties post-acquisition. Adam will be a featured speaker at CAPRE's upcoming New Jersey Apartment Summit. In advance of the event, Adam shared some of his latest observations from the trenches with CAPRE. CAPRE: Thanks for chatting with us Adam. What are you seeing on the ground in New Jersey right now, with regards to the apartment arena? What’s the latest on rents? Altman: We are seeing that rents have been climbing across our portfolio in the Northeast and Southeast. In our New Jersey portfolio, specifically Bergen County  office, and multi-family rents remain strong. We’re focused on trying to find new opportunities to purchase, which has been tough lately, as a result of very low interest rates coupled with being pretty far into the economic cycle and the need for large funds to…