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Over the past several years, as prices in multifamily have escalated, the greatest value has been in acquiring older, C Class assets with the highest returns. As interest rates have pushed prices down more recently, however, and the market normalizes, great opportunities are also emerging in newer vintage Class B assets that don’t require as much work. Vadim Kleyner, CEO and Chairman of Smartland in Cleveland, is continuing to pursue lucrative Class C properties, but is also poised to take advantage of the course correction in B Class prices as well. Vadim has focused mostly on Northeast Ohio, but recently expanded to Miami, and is exploring other markets as well.
