Up until a few months ago, it appeared that multifamily had entered a golden age. Rents were rising, deals were closing and forecasters saw little difficulty in the medium term. To be sure, the asset class is still a strong one but with the rise in the cost of debt, the threat of a possible recession and asset pricing that has become muddled, some uncertainty has been injected into the landscape. For that reason, we give our kudos to the men, women, teams and companies that are navigating this environment. Careful judgments must be made about underwriting, forecasting the ability of tenants to pay higher rents and, for developers, the ongoing difficulties with labor and supply chains. We have little doubt that the recipients we selected for our annual multifamily influencers are up for the challenge.

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Erika Morphy

 

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