CRE investors are generally acting rationally given the current lending environment, according to Ken Munkacy, senior managing director at Kingbird Investment Management.
However, while rising interest rates, a potential policy-induced recession, credit terms, and valuation uncertainties are all a reality, the current "doom and gloom" headlines oversimplify and obscure the long-term positive fundamentals of the multifamily asset class specifically, he said.
Based on Kingbird's research and analysis, the underlying fundamentals in this asset class remain solid, and investing in distress as 2023 unfolds presents an opportunity to capture strong risk-adjusted returns.
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