The properties have low vacancy rates and offer affordable options for renters, according to Starwood Capital.

Workforce multifamily, student housing, and triple-net lease enjoy relatively low transaction costs, transparency, a deep pool of buyers and sellers, ease of valuation—in other words, liquidity.

"Law firms want to have Miami on their business cards."

In cities like Austin and many others, the answer is yes.

"I see continued movements from other states with income taxes. I also see continued growth in warehouse space and in one to four family housing."

The two largest financings include a $90 million loan for student housing and a $37 million multifamily refi.

Space arbitrage enables a business to capitalize on the potential to offer physical space for new alternative revenues without assuming lease risk.

Elion recently aggregated a portfolio of 3 million square feet of industrial product in South Florida, Chicago and the Washington, DC metro area.