Heartland Real Estate Business

Breck Hanson, executive vice president and head of commercial real estate

With its low vacancy rate, strong absorption and robust development pipeline, the Midwest apartment sector is booming. Most industry pros says multifamily’s solid fundamentals will continue for the next few years, despite some concerns that the sector is approaching its peak. “Overbuilding is a possibility in some areas. However, most markets still have a decent two to three strong years left in the apartment sector,” says Breck Hanson, executive vice president and head of commercial real estate at the Chicago office of Associated Bank.