Denver’s Surging Housing Demand Fuels JLL Growth
DENVER – Responding to an increasingly competitive multifamily environment coupled with client demand for comprehensive capital markets capabilities, JLL Denver has tapped Craig Kalman to partner with Travis Hodge as co-leaders for its newly formed Mid-Market Multifamily operations.
Denver’s population is booming. On average, some 100 new residents have moved into the metro area every day for the past three years. Apartment developers have responded by adding to inventory, 27,000 apartment units under construction just this year. With the majority newly built units being Class A luxury apartments and rents-to-match, there is a renewed focus on mid-market assets. Kalman’s solid experience with mid-market transactions matches Hodge’s expertise honed during his time with Institutional Multifamily team.
“Investors remain more bullish on Denver than not—particular so regarding its multifamily sector. More and more emphasis is being placed upon our need for additional affordable housing options that serve our residents,” said Paul Washington, Market Director for JLL’s Rocky Mountain region. “Given the complexities in navigating this market niche, we at JLL are redoubling our efforts to best assist our existing client base and the larger general population. We’re confident that by teaming Travis and Craig together as our mid-market platform, our multifamily expertise only grows stronger.”
Prior to joining JLL in 2014, Kalman worked at The Related Companies and leading multifamily REIT UDR. He holds a BA from Villanova University and a Masters of Business Administration in Real Estate and Finance from the University of Colorado Boulder. Hodge, who also joined JLL in 2014, previously worked for Specialized Title Services, a boutique commercial real estate firm. He holds a BA from University of Georgia and a Master of Business Administration in Real Estate and Finance from the University of Colorado.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in- class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
Image courtesy of JLL.