Industry veterans Peter DiCorpo and Eric Hade announced the launch of Brook Farm Group, a new multifamily development firm that will focus on rising demand in “lifestyle” and “path-of-growth” markets throughout the Sun Belt and Mountain states.
"The multifamily sector has had a phenomenal run over the past 10-plus years, and we expect strong activity to continue. Despite some near-term challenges with supply chain disruptions and commodity price volatility, we see continued long-term demand growth in the rental residential sector,” says DiCorpo. “There is still plenty of runway left in the multifamily sector and our experience navigating through complex market cycles, along with our strong financial backing, provide a solid foundation for our development efforts.”
DiCorpo and Hade have expertise across the development, acquisition, joint venture, investment, and asset management spectrum, with career project completions totaling more than 40,000 units and $10 billion on a total development basis. The team has several development projects in the pipeline and expects to start construction in Q1 2023.
The Atlanta-based company will be pursuing a wide variety of rental residential housing types, including traditional garden-style, mid-rise, high-rise, townhome, and single-family build-to-rent. In many cases, Brook Farm Group will design communities with a combination of several product types to encourage a more natural, organic neighborhood that will serve a wider variety of residents.
"We see a unique opportunity to enter the market at this juncture and support the need for well-planned and thoughtfully designed communities," adds Hade. "Many regions are experiencing a strong influx of residents but still lack enough supply or the right combination of supply to meet the demand."
