With Fort Lauderdale marking Greybrook’s second investment in South Florida, RENX spoke with Greybrook Securities CEO Sasha Cucuz regarding the firm’s expansion into sunnier shores.
“The South Florida market, specifically in Fort Lauderdale and Miami, has seen a resurgence in rental demand that’s been brought on by housing prices having rebounded, whether it’s condos or low-rise homes,” Cucuz stated to RENX.
“Since the last recession in the U.S., Florida has emerged quite strong. They’ve changed some of their regulations and legislative components around development, and the state has been prospering from an economic growth perspective. Because there’s been a lot of job growth created, and a lot of corporations are opening operations in Florida or adding to their operations in Florida, that job growth has brought people into that market in South Florida that are looking specifically for product in the cities.”
Read more about Greybrook’s interest in South Florida on RENX.