April 2023 – The new normal requires leadership that has been tested over multiple cycles

The Investment Environment

For most of the last 15 years, multifamily investment has been bolstered by the Fed’s lowinterest rate trajectory. This rate environment generated demand and ensured climbingvaluations. The party was abruptly halted when this policy ignited inflation rates not seen in over40 years in 2022.

Success in the new normal will not be tethered to cheap money, but to investment driven bysolid risk-adjusted underwriting and granular market insights. More so than ever – the newnormal requires leadership that has been tested over multiple cycles.

Last Month in Essential Realty Partners

We were honored to be able to share our thoughts on the new normal at The Family OfficeClub’s “Private Investor Summit” in Los Angeles this past month. I provided a market updateduring a stand-alone presentation and shared our thoughts on where the best opportunities willbe during a panel session with other industry leaders.

We also formally launched our 2023 Co-GP Fund last month and funding is off to a fast start. Opportunities are now beginning to appear and Essential is on the hunt in the new normal!