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Investors Target Strong Atlanta Submarkets Despite Citywide Rent Drop
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Date:
15 Sep 2025
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While some investors are steering clear of markets showing negative rent growth, one asset management executive argues this broad-brush approach misses crucial submarket distinctions that could represent significant opportunities.
“There are some markets that I think are still negative rent growth and showing some deceleration, that there is a contrarian play to be made. Atlanta being one of them,” says Natalina Rettew, Head of Asset Management at Trion Properties, which recently completed an acquisition in the market.
The Submarket Distinction
According to Rettew, the key is distinguishing between temporary and structural challenges. “Not all submarkets are created equal there, and just wanting to find the ones where maybe supply is what’s creating the downward pressure that’s temporary, that will ease,” she explains.
This contrasts with areas facing more fundamental challenges: “If it’s something that’s fundamental to fraud, really high bad debt, those are the sub markets that we might shy away from right now, because there just doesn’t seem to be that quick fix on the horizon,” Rettew notes.
Data-Driven Decision Making
Rettew’s approach relies heavily on granular market analysis. “We can take a bird’s eye look at the whole portfolio managed, and dive down and look for outliers,” she explains, describing their use of Power BI analytics to identify opportunities.
This data-driven approach helps distinguish between markets where negative indicators reflect temporary versus structural challenges.
The Solution: Strategic Deployment
Rather than avoiding challenging markets entirely, Trion focuses on specific execution strategies. “We can come in fully fund the capex needs, come in eyes wide open with whether it’s bad debt we’re going to tackle day one, turning units and getting them leased up,” Rettew explains.
This targeted approach allows the firm to find value even in markets others might overlook. “We’re still active in that market, and I think it’s about finding that right sub market,” she maintains.
Looking ahead, Rettew suggests the current market conditions may actually represent a unique opportunity: “Here it is toward the end of 2025, groups buying right now stand to find some real upside in values in the future.”
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