Opportunities in Multifamily as the Country Reopens
The pandemic has created significant problems for certain classes of real estate and while multifamily real estate has fared better than most, the impact of Covid on other sectors has created issues in the debt markets and in household income that has had an impact on all sectors and the economy in general. Defaults and foreclosures leading to discounted pricing have not yet occurred to any significant degree and while additional weakness is anticipated when eviction moratoriums are removed, the multifamily market is expected to remain stable due to pent up demand, agency lending and significant liquidity attracted to the sector.
The reason the fallout from Covid has been limited so far is largely due to actions taken by lenders, asset managers and tenants to work cooperatively in developing payment plans and workout solutions in lieu of taking more extreme measures.
- Changes in the market since March 2020 in terms of sales activities, acquisition opportunities, cap rates and debt markets
- Asset classes and markets experiencing the most stress, expectations of fallout as compared to past recessions
- Discussion regarding the impact of Covid on construction/renovation projects as well as supply chain
- Covid challenges in asset management and operational changes made to meet the challenges
Event Recording
Opportunities in Multifamily as the Country Reopens
Speakers
Ana Bozovic
- Title
- Founder @
- Company
- Analytics Miami & LiquiditySolutions.org
- Role
- Moderator
Ana Bozovic is the founder and owner of Analytics Miami and of LiquiditySolutions.org
Analytics Miami - Since 2016, Ana has been publishing long term trend analysis on the South Florida real estate market. She is frequently referenced in the real estate press and speaks on industry panels. Her real estate reports are “outcome agnostic”, and are published with the intent of bringing truth and clarity to the market. In her reports, Ana cuts through the noise and brings prevailing trends to the forefront.
LiquidtySolutions.org - Nimble capital for a shifting world, launched in 2021, Ana is the founder of this lending & acquisitions platform. Liquidity Solutions deploys private capital with the ability to commit institutional sized funds without committees or shareholder approval.
Think Tanks - Ana is frequently a speaker on macro-focussed think tanks, speaking on a variety of topics including history, monetary policy and world economic trends.
Ana studied math and physics at Columbia University, and her work draws upon her abilities to see past the noise to recognize patterns in data.
She is a Governor of the Miami Association of Realtors and is a Florida Realtors State Director representing the Association.
Gideon Pfeffer
- Title
- CEO & Managing Partner @
- Company
- GSH Group
- Role
- Panelist
Gideon serves as the CEO and Managing Partner and is responsible for strategic partnership initiatives and ventures, equity and debt opportunities, overseeing investment performance, and approving decisions on investments and acquisitions. He also oversees daily operations. Under Gideon's leadership and direction, in the last four and a half years, the GSH Group has raised and placed over $225 million of equity and assembled a portfolio of over 6,000 apartment units in five states, worth over a billion dollars.
Gideon has been featured in INC. Magazine and was selected as one of dBusiness Magazine’s “30 in their 30s” honorees in 2017. He has served on various board and advisory roles for non-profit groups focused on community development and the revitalization of the City of Detroit. Having attended Syracuse University and as a recipient of various grants and scholarships, Gideon and his wife pay it forward by having created the Jaime and Gideon Pfeffer Scholarship Fund, created to support students in need attending Syracuse University.
Chris Loeffler
- Title
- CEO and Co Founder @
- Company
- Caliber Companies
- Role
- Panelist
Chris Loeffler is the CEO and Co-Founder of Caliber and serves as Chairman of the Company’s Board of Directors. As CEO, Chris directs and executes global strategy, oversees investments and fund management, and contributes to private and public capital formation.
Prior to forming Caliber, Chris served as a Senior Associate in the audit and assurance practice for PwC in Phoenix, Arizona, Some of Chris' clients included Honeywell International, Inc., CSK Auto Inc., Verizon Communications, Inc., Republic Services, Inc., Car Wash Partners, Inc., and the Arizona Diamondbacks
Chris earned a Bachelor of Science degree in Business Administration with a concentration in Accounting from California Polytechnic State University, San Luis Obispo.
Sheryl Morehead
- Title
- Managing Director, Capital Markets @
- Company
- Sunstone Properties Trust
- Role
- Panelist
Before joining Sunstone as Director of Capital Markets, Ms. Morehead held positions in both the commercial real estate and banking industries. After starting her banking career in Citicorp's National Real Estate Group, Sheryl moved west and became division manager of commercial real estate industries for Bank of California/Mitsubishi managing a $4B portfolio and ten production offices. As CCO and President of First Los Angeles Bank and later, CEO of First Bancorp, she specialized in transitioning challenged institutions with troubled real estate assets to regulatory compliance and profitability. Prior to earning an MBA at Harvard Business School, Sheryl worked for shopping center developer Lanning Corporation of Boston securing financing, leasing and property management. As EVP of M&M Development Corp., she was involved in every phase of development, financing and property management. Sheryl completed her undergraduate work at Boston University earning a BS in finance. At Sunstone, Ms. Morehead is in charge of raising capital on a direct basis to add to Sunstone's integrated framework. She sits on investment committee and is also responsible for debt placement and bank relations.
About
FLAIA
FLAIA is an open access platform of alternative investments for institutions, wealth advisors, family offices, RIAs, and accredited investors. General Partners gain access to a vertically integrated digital & traditional fintech marketplace. Investors gain access to special opportunities, educational webcasts and digital events. All of our digital events, educational content and alternative investment opportunities are available in one place under a single sign on.
Sunstone Properties Trust
Sunstone is a fully integrated real estate operator, developer and fund sponsor in business since 2012. After 30 years in the commercial real estate business, the founders of Sunstone chose workforce multifamily housing as a sector because of its solid performance throughout varying economic cycles. Sunstone performs its own architectural design work, construction, asset management and fund management to achieve maximum efficiency, cost containment and investor returns. Its acquisition team sources transactions with proprietary software and a network of local brokers. Capital markets works with investors and lenders to optimize Sunstone's access to debt and equity. Risk is managed through a comprehensive due diligence and underwriting process with investment committee oversight. Hands-on portfolio management is effected from acquisition through disposition. Sunstone's markets include Texas, Florida, California, Arizona and Nevada.
GSH Group
The GSH Group is a privately held real estate investment firm specializing in the acquisition and management of multifamily residential properties in multiple markets that support economic stability, growth, and strong educational systems. Our growth-oriented strategy is a disciplined approach for acquiring and managing properties that fit our specific criteria. We carefully curate a portfolio of high cash-flowing opportunities for our investors. These properties are improved through simple and cost-efficient adjustments that are more predictable in scope and require less time to complete. GSH and its ESG-related Meadows brand focus on enhancing their communities with a concierge approach to improving their residents' lives while providing investors ethical and transparent communications with the opportunity to achieve superior returns on investments.
Analytics Miami & LiquiditySolutions.org
Analytics.Miami is a provider of long term trend analysis on the South Florida real estate markets.
LiquiditySolutions.org is private, nimble capital ready to assist asset holders during this period of radical uncertainty. Out current focus is on hospitality, but this will shift over time and we are open to all investments.
Caliber Companies
Caliber is a leading investment company providing a full suite of real estate services. Caliber owns, operates, and invests both on its own and through individual operating companies. In addition, Caliber manages all aspects of the real estate investment deal continuum including fundraising, asset acquisition, construction and development, property management, asset management, brokerage services, and asset disposition.