For nearly a decade, Mark Bryant has been an integral part of the development of JPI's Central residential and student living division. Now, as its new division president and managing partner, he's on the front lines of JPI's efforts in this arena. Bryant, who holds a bachelor's degree in business administration from Texas Tech and an M.B.A. from the University of North Texas, formerly was with GE Capital and FGB Realty Advisors before joining JPI in 1998.
Q: What do you hope to accomplish in your new role?
A: In my current position, I'm responsible for the supervision of JPI's development, asset management, acquisitions, and asset dispositions in [the Central residential and student housing] divisions. Our team is fortunate to have leadership with many years of JPI experience. Consistent with the long history of JPI, our team is committed to being recognized by our customers as the best residential company in the country.
Q: What do you see as a significant challenge for the multifamily industry in the coming year?
A: In addition to rising construction costs, multifamily yields have tightened, leaving a smaller margin for error. The importance of in-depth research and people who can execute the plan will continue to increase.
Q: What are the big opportunities for multifamily firms?
A: The pace of growth for renter households is projected to increase over the next five years. This future growth will generate demand but also will have needs that differentiate it from the previous generation of renters, giving market research an even more important role in determining product type and location of new development.