Wichita has grown considerably in the past few decades while still maintaining the small-town charm the city is known for. With a population of 397,532 as of the 2020 U.S. Census, Wichita is the largest city in Kansas. The city has grown 4 percent since 2010, when the U.S. Census reported the population as 382,368. The many changes in the city’s demographic makeup and economy have notably changed the multifamily rental housing landscape. Farming remains prevalent in this area, which is tucked into the heart of the Midwest. However, other …
From the Magazines
The multifamily sector in Dallas-Fort Worth has faced a challenging capital market environment over the past year. But like its counterparts in the Sun Belt, the local market has proven to be resilient based on economic performance, employment and population growth, as well as other market fundamentals. Sentiments about the commercial real estate sector in Dallas-Fort Worth, as a result, have turned very positive since the start of the year, though a significant number of investors remain cautiously optimistic. Employment indicators in Dallas-Fort Worth best displayed the resilience we saw …
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 …