Secondary multifamily markets are ripe for investment for smaller players, while the larger institutions continue to focus on class A assets in gateway markets. That was one of the main messages from our conversation with Morgan Ferris, senior vice president income property lending, at BofI Federal Bank. His firm is one of our Thought Leader partners on Multifamily Leader, as part of our coverage of MBA's CREF/Multifamily Housing Convention & Expo earlier this month.

Globest.com: Were there any surprises about the market at MBA's CREF multifamily conference, or were your prior impressions reinforced?

Morgan Ferris: There weren't any surprises to what we see in the marketplace or where things are going. It kind of solidified our overall thoughts. There appears to be some very buoyant mood for the next year. A lot is very positive.