Multifamily Buyers Waiting Patiently

DALLAS-A panel of multifamily brokers, crisscrossing all asset classes, confirmed there is capital on the sidelines, waiting to strike when the time is right. In most cases, that means higher cap rates and distressed owners or properties.

“Much of the money has a predatory angle to it,” Jeff Price, principal of Dallas-based Apartment Group, said at the monthly meeting of the DFW Apartment and Investment Brokers. “There are a lot of institutional investors gathering money to buy. I think the predatory capital is going to buy notes.”

The panel also included Heather Konopka with Sperry Van Ness, Tom Warren, a national partner for Hendricks & Partners, and Chris Paul of Dallas-based La Paul Partners. The most common advice they have for clients is to sit tight or as Price said: “defer sales until after the election and let the bail-out plan sink in a bit.”