July 2023 – $8b multifamily debt is scheduled to mature this Fall
The Investment Environment
$8b multifamily debt is scheduled to mature this fall. This intimidating “wall of maturities” is set against the backdrop of resetting market. Transactions are down over 70% with values showing over a 20% decline.
Many owners will be faced with difficult choices; issue capital calls, sell at a significant discount or risk foreclosure. This pressure will be exceptionally acute for assets acquired with floating rate debt between 2020 and 2022.
The market is setting up to present savvy investors with opportunities to acquire high quality, well-located properties with operational upside.
Last Month in Essential Realty Partners
In June 2023, Essential’s CEO, Rick Courtney went coast to coast to speak on the issues and opportunities at two industry conferences.
IMN’s Family Office and Private Wealth Forum in California;
IMN's Real Estate Opportunity & Private Fund Investing Forum in Rhode Island.
Essential’s 2023 Co-GP Fund also reached reservations for 92.5% of its allotment in the month of June. We are looking forward to topping off the fund this month prior to its closing date of July 27th.
Supporting FORE as Sponsor Partner and Board Member
We are honored to announce that Essential has become a founding sponsor partner and advisory board member for the Family Office Real Estate (FORE) Institute.
We'll be working alongside families, family offices, and renowned professors from the top real estate programs across the country to help direct the institute's programming, education, and direction.
We look forward to collaborating with this esteemed group to advance the real estate industry and support the next generation of real estate leaders.
Exclusive Invitation to our Family Office Network
We are delighted to extend complimentary access to the upcoming Family Office Real Estate Institute Conference, taking place from September 14-16 at the University of Denver.
This event is exclusively tailored for Family Offices, providing a unique platform to connect with distinguished industry experts and fellow Family Offices.
A lineup of speakers, including renowned Family Offices and experts from the Real Estate industry will deliver valuable knowledge and their perspective on generating alpha in this unique investment environment.
Reserve your spot today by referring to Essential Realty Partners.