Multifamily Investment

Multifamily Deal Analysis in 2026: What Has Changed and What Still Works

The U.S. multifamily investment landscape in 2026 looks markedly different from the frenetic deal-making environment of the early 2020s. The pandemic years brought historic rent growth, low interest rates, and massive construction pipelines, but today’s environment favors fundamentals over momentum, requiring investors to re-think assumptions around rents, vacancies, cap rates, expenses, and risk tolerance. In […]

Passive Investment

Multifamily Normalization: From Peak Deliveries to Operational Alpha

After several years defined by unprecedented construction pipelines and elevated supply risk, the U.S. multifamily market is entering a period of normalization. With new starts significantly below the 2021 peak and vacancy rates stabilizing, the competitive advantage in 2025–2026 is shifting decisively from aggressive rent pushes to operational excellence—renewal capture, expense discipline, and targeted value-add […]

Passive Investment
Liquidity Thaw and Pricing Discovery

Liquidity Thaw and Pricing Discovery: How 2025 Deal Flow Is Narrowing Bid–Ask Spreads

After two years of pricing friction, cautious underwriting, and wide bid–ask spreads, 2025 is shaping up to be the first true year of price discovery in commercial real estate. With interest rates stabilizing and capital markets reopening, liquidity is progressively returning—particularly in multifamily, industrial, and necessity retail. For investors, this environment is finally creating alignment […]

Multifamily Investment
Midwestern Strength, Coastal Resilience: The 2025 Multifamily Winners and Sun Belt Risks Investors Can’t Ignore

Midwestern Strength, Coastal Resilience: The 2025 Multifamily Winners and Sun Belt Risks Investors Can’t Ignore

The national picture for multifamily in 2025 is defined by two opposing forces: the tail end of a historically large supply bulge and resilient, if uneven, renter demand. National rent growth is expected to be positive but below long‑term averages, while vacancy hovers above pre‑pandemic norms before gradually easing as deliveries decelerate into 2026. For […]

Multifamily Investment
U.S. Multifamily Pulse

U.S. Multifamily Pulse: September 2025

The U.S. multifamily sector is steadily regaining balance after last year’s flood of new deliveries. Supply pressure is easing, absorption is improving, and national rent growth has stabilized into a slow-but-steady rhythm. For limited partners, this environment underscores the importance of disciplined underwriting, smart market selection, and patient capital deployment. Key highlights Rents steady: National […]