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Like nearly every industry, the multifamily real estate market has taken a hit during the COVID-19 pandemic, but it may have one advantage that some industries don't: people always need a place to live.
David Greensfelder, managing principal of Greensfelder Commercial Real Estate, recently discussed how retailers can ride out the downturn and come out the other side.
Five of the seven apartment REITs reported Q1 April earnings this week, highlighting the impact COVID-19 has had - and will continue to have - on the real estate market.
"As the pandemic continues to drag on the real economy until we have a vaccine or drug, real estate occupational markets will start to deteriorate, albeit with a time lag," Thomas Mueller, the portfolio manager for EFV at BlackRock Real Assets, said in the press release.
JLL Capital Markets Senior Director Tarik Bateh, one of the leads on the debt placement team for the loan, says the market "continues to attract core real estate investment capital.'
Southpoint Acquisition, an indirect wholly owned subsidiary of the Starlight U.S. Multi-Family (No. 1) Core Plus Fund, said it has purchased Southpoint unencumbered for a purchase price of $51.5 million.