LOS ANGELES—Key industry leaders addressed the challenges facing the multifamily real estate market, with August's deal volume plummeting by about 70% year over year and pricing declining by 15%. This discussion took place during a rapid-fire session at the GlobeSt. Multifamily Fall Conference held on Monday. The expert panel convened to analyze the current state of multifamily transactions, dissect the obstacles, and explore potential opportunities.
"In the multifamily space, we are still completing deals," noted panelist James D'Argenio, senior principal of acquisitions at The Bascom Group. He emphasized that the key to success lies in creative structuring and optimizing the capital stack. "While we stepped away from the multifamily sector in 2021 and 2022 due to our short-term investment strategy, our historical exclusion of rent growth from our assumptions has proven beneficial. Today, it's crucial to maintain a realistic outlook on your assumptions."
Zack Streit, founder and Managing Partner of WAY Capital, highlighted the debt market's dichotomy, where distressed deals are on the rise, while conventional deals are dwindling.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
