🚨 In this recorded webinar Craig Berger, Founder & CEO, and Jim McCarthy, Chief Operating Officer of Avid Realty Partners deep dive into the 2023 banking crisis, treasury market volatility, effects this can have on the commercial real estate market. and where is the smart money is going.
💡 Overall multifamily fundamentals remain strong by historical measures, with still robust occupancy and rental rate metrics. Avid Realty Partners’ remains patient in identifying our next acquisition, and our acquisition efforts are lagging behind our overall plan this year, though we expect to make up some of this ground in coming months.
✅ Federal Reserve raises rates by 25bps and nears the end of the tightening cycle as expected and despite the recent ‘run-on-the-bank’ banking crisis hitting SVB, Signature, and potentially other mid-sized regional banks. That said, we believe the Fed has perhaps one more 25bps rate hike in store before that portion of the tightening cycle is complete.
✅ Fed’s actions setting up multifamily for a potential rally in 2024 and we think multifamily is set up to deliver still-robust returns over the next five years even though prices right now remain relatively elevated. Interest rate futures markets, which can often be wrong by the way, are now embedding Federal Reserve interest rate cuts in late 2023 and 2024.
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