Features

A view of the pool at the 264-unit Windsong property near Dallas

Texas Roundtable: Despite Overwhelming Renter Demand, Investor Hesitancy Emerges

by Lynn Peisner February 23, 2023

Investment sales professionals are bracing for a slower, more complicated year compared with the buying and selling frenzy that characterized the Texas apartment market in late 2020 and most of 2021. Owners who acquired assets in the past few years using floating-rate debt could face some difficult choices in 2023, say industry veterans. But a slowdown in the development pipeline, the unaffordability of for-sale housing and job and population growth will keep asset performance solid while investors wait and see what the interest rate environment will bring this year. Texas …

February 23, 2023

Mirra, a greek revival style apartment building with a brick base.

Development Features Investment Sales Texas

Three Texas Cities Among Top 10 Markets for Multifamily Investment

by Channing Hamilton February 20, 2023

DALLAS — Texas has earned bragging rights on the multifamily investment front. Investment firm CONTI Capital — has developed a proprietary location analysis technology platform known as the CONTI Index — lists Dallas, Houston and Austin among the top 10 strongest markets for multifamily investment in the first half of 2023. Dallas-based CONTI released the rankings in January. From one to 10, the most attractive places to park apartment capital this year are as follows: (1) Dallas; (2) Atlanta; (3) Austin, Texas; (4) Charlotte, North Carolina; (5) Orlando, Florida; (6) Tampa, Florida; (7) Houston; (8) …

February 20, 2023

Affordable Housing Development Features Illinois Midwest

Empty Office Buildings in Chicago’s Financial District Offer Possible Solution to Housing Crisis

by Kari Lloyd February 16, 2023

Often dubbed the Wall Street of Chicago, the LaSalle Street corridor historically has been the location of choice for big business in the Windy City. However, in recent years the corridor has suffered from significant vacancies largely due to the remote work trend of the pandemic and an overall shift to remain remote permanently. In response, Chicago’s employers either downsized office space or completely left the office environment altogether. Chicago’s overall office vacancy situation has been on an increasing trend for over two years. According to fourth-quarter 2022 data from …

February 16, 2023

Features From the Magazines Investment Sales

Tumultuous Market Tests 1031 Exchange Investors

by Lynn Peisner February 2, 2023

The doubling of multifamily mortgage rates to around 6 percent since early 2022 as a result of the Federal Reserve’s monetary tightening efforts has rocked the commercial real estate investment sales market. The higher rates have fueled a stubborn bid-ask spread, and debt-service coverage requirements have limited the amount of leverage buyers can borrow to around 50 percent of an asset’s value, down from roughly 60 percent or more earlier this year. The sharp uptick in the price of debt not only requires borrowers to raise more equity, but those who …

February 2, 2023

Griffin Gate, a two-story multifamily property. The first floor is brick, the second floor is eggshell yellow.

Features Investment Sales Southeast

Roundtable: Southeast Brokers Bank on Region’s Renter Demand

by Channing Hamilton February 2, 2023

Nothing can compare to the rent growth and investment activity of 2021 and early 2022. Most brokers active in the Southeast predict the first half of 2023 will be slower compared with the past several quarters, but the second half of the year could provide just enough clarity about interest rates to inspire buyers and sellers. A positive spring leasing season could fan the flames of pent-up demand from investors who, for now, will wait to make their next move. Southeast Multifamily & Affordable Housing Business sent questionnaires via email to …

February 2, 2023

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