How is the multifamily investment market doing?
Well, it depends who you ask, and where in the country they are buying (or developing). If it’s the Sun Belt, they might be seeing oversupply and depressed rents. If it’s the Northeast or the Midwest, they are probably raising rents more quickly than in recent years, while battling high operating costs. And everyone is worried about skyrocketing interest rates.
That’s according to attendees at Commercial Observer’s multifamily forum held Sept. 21 on the 16th floor of 1177 Avenue of the Americas…..
In the last panel of the day, investors and lenders chatted about the elephant in the room: mortgages on buildings coming due as interest rates rise, and how lenders and borrowers are responding. Speakers included Martin Fayer of NewPoint Real Estate Capital, Ronnie Levine of Meridian Capital Group, Justin Levitt of investor PGIM Real Estate, Jerry Murphy of developer and owner Davis Companies, and David Ruttenberg of Ruttenberg Gordon Investments.