All the multifamily news you need
During the summer, sellers were, at last, beginning to “meet the market” in terms of transaction prices. With sellers no longer captive to the false pretense that pricing would make a quick U-turn and strengthen by the end of 2023, the pace of investment sales, anecdotally at least,…
As the old adage goes, the only constant is change, and CRE is undergoing a massive one. The current economic climate places commercial real estate in an increasingly complicated and nuanced position and the focus has shifted to value creation for tenants.
After a sedate start to the year, mergers and acquisitions in the multifamily industry are again gaining significant interest, according to a panel of analysts and executives at the Blueprint Conference in Las Vegas. M&As had dropped off by nearly 70% in the last year.
The top storylines in multifamily this week are retaining residents through choice, ESG, emergency response for residents, centralization, data-based decisions, tech for reducing burnout and turnover, operational efficiency challenges, Q4 deals and economists distort the record on rent control.
Forward-thinking operators are tapping into technology-powered incentive optimization, such as cash back for renters who pay their rent on time. These tools garner higher resident engagement while empowering them to establish financial security.
According to a preliminary report by CoStar Group that was recently outlined in the Wall Street Journal, apartment investment sales totaled $14 billion in the first quarter of this year. The figure represents a whopping 74% decline from first-quarter 2022.
While renters’ behaviors and preferences have evolved, so have the ways in which they get paid. The gig economy was already on the rise before the pandemic, but remote work and technology expedited this growing workforce, and many renters have volatile incomes.
Modern consumer expectations have greatly evolved over the last decade – especially when it comes to shopping and buying. For instance, if consumers make a substantial online purchase, chances are they have the option to pay in increments rather than in-full, using platforms such as Affirm or Afterpay.