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MenaiMultifamily activity has slowed down this year, compared to 2015 and 2016, which were each record-breaking years. Transaction volume has still been strong, but investors have noticed the change. Some players, believe that foreign investment has driven the slow down. Noor Menai, President & CEO of CTBC Bank USA, says that the stalled EB-5 program has contributed to the reduction in activity. If you exclude foreign investors, Menai says that activity has been as strong as the previous two years.

“There was a little bit of leveling off this year because the EB-5 program got into abience, and there was a push from the regional offices to step back and inject more governance and compliance culture into the process and then come back into the market,” Menai tells GlobeSt.com. “If you couple that with the fact that a lot of the big projects got underway, there was also a surge for the next project. If you hold that aside, from our perspective at this bank, we did not see a slow down in activity. If we had wanted to do more, we could have done more.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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