As the multifamily market works through a pricing reset, some investors are zeroing in on a specific type of opportunity: sellers under pressure.
At the GlobeSt.com Multifamily Owners Summit in Tampa, panelists said their acquisition strategies are increasingly centered on owners facing liquidity challenges, rather than on those simply testing the market. The approach reflects a broader shift as buyers look to navigate stalled pricing by focusing on distress and execution at the asset level.
Matt Ferrari, founder and managing partner of PXV Multifamily, said his firm is intentionally targeting situations where a sale is not optional.
"We are trying to buy from groups that need to sell, not want to sell," Ferrari said. "We are operationally focused."
Panelists said liquidity-driven deals are surfacing across multiple markets and ownership structures. According to Lippman, JRK has been active in sourcing acquisitions from REITs and other owners dealing with capital constraints, with recent transactions in New Orleans, Hoboken, Washington, D.C., and Birmingham.
"It was REITs with liquidity issues that had some specific issues in why they needed to sell," he said.
Beyond distress, investors are also underwriting deals based on their ability to improve performance at the property level, rather than relying on broader market rent growth to drive returns.
Ferrari pointed to a recent investment in Virginia Beach, where the appeal was tied to a clear operational strategy rather than macro conditions.
"It was still that the deal there has a specific story from a management perspective and it made sense," Ferrari said.
Together, panelists said, liquidity-driven acquisitions and hands-on operational execution are shaping how investors deploy capital in a market still searching for stability.
Check back with GlobeSt.com for more from this panel and event.
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