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Multifamily deals return, but Texas lags other markets — for now
https://therealdeal.com/texas/2024/08/20/texas-lags-as-multifamily-sales-inch-back/
THEREALDEAL writes:
“Like Babe Ruth calling his shot, KKR took a moment to let the world know it was about to swing for the fences. In April, the investment giant released a report titled “When Fear is a Friend,” in which it made the bull case for American multifamily.
After years of meatballs straight over the plate, the pitcher had thrown a curveball. Debt levels were high for multifamily owners, and their loans were coming due. At the same time, building values were falling below their acquisition prices and supply was booming. Owners needed to refinance their debts, but high interest rates refused to budge.”
Read more in the original article below:
therealdeal.com
Multifamily deals return, but Texas lags other markets — for now
Texas multifamily investment sales are still behind last year, but trending up as institutional investors, family offices wade back into the market.
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