News
MULTIFAMILY PROMISE
November 26, 2012
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| Last week, we were grateful that Aunt Mabel didn't ask us embarassing questions at the Thanksgiving table. But the capital markets panelists at the Bisnow Multifamily Annual Conference in DC were thankful for other things: like how Fannie and Freddie remain the biggest source of multifamily capital and that there are many alternative financing sources for the sector, like foreign capital. ButJLL's Scott Melnick says institutional investors and REITs remain hard to compete with for acquisitions because they can close all-cash deals quickly. |
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| C&W national multifamily head Steven Weilbach (right) says investors have options between the steady yields of core products and the allure of high-reward, value-add plays. And multifamily success is so widespread that sales volume doesn’t hinge on a trigger like 2010’s condo-conversion boom, which kept the market afloat. Above are Reed Smith's Karen Fagelson, Walker & Dunlop's Brendan Coleman, Transwestern's Robin Williams, Grandbridge Real Estate Capital's Jack Bauer, and Pantzer Properties' Jason Pantzer. |
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| Value-add plays and secondary markets represent huge opportunities. Wharton Equity Partners chairman Peter Lewis(flanked by Greysteel prez Ari Firoozabadi and Continental Realty CEO JM Schapiro) says secondary markets still need a solid employment base with room for growth to remain attractive investments. (Perhaps we should stop referring to them as "secondary"; the ensuing confidence boost will increase attractiveness.) JM goes for value-add properties with outdated management in place. |
