Despite the pandemic, the real estate scene in South Florida has remained as strong as ever. In the summer of 2021, an event bringing together the leading commercial real estate investors and financial executives was held. Among their ranks were M Patrick Carroll, who attended the event as a guest speaker. The event in question was the BisNow South Florida Deal Flow and Investment Strategies Summit that highlighted the positive effects of new investment on the market.
M Patrick Carroll, the founder of CARROLL had the opportunity to showcase his unique understanding of the multifamily housing sector in order to provide insights on the continuing changing trends. His appearance as a guest speaker speaks volumes to his growing prominence within the real estate industry. BisNow stands as a global leader in commercial real estate services with operations across North America, the United Kingdom, and Ireland.
As it stands at the time during the writing of the article, M Patrick Carroll manages more than thirty-thousand multifamily units located in around seven states. His company has also managed the acquisition of many other multifamily property owners/operators across the country. His career has allowed him to come to several conclusions concerning real estate trends.
One of the first trends being how the U.S recovered from the 2008 Great Recession and how many people returned to urban living environments as they wanted to enjoy the amenities the city had to offer. The convenience of many activities stood as a driving force for many families’ decisions. Now in 2021, M Patrick Carroll predicts a reversal trend, where families will proceed to move back to the suburbs. He even extends this prediction to become a multi-year phenomenon due to lower-priced housing options compared to living in the city.