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Count on multifamily developers to be highly selective with projects going forward as they store up dry powder for the beginning of the next real estate cycle. More people are looking over their shoulders as the 10-year-long economic expansion continues. Development veterans will seek out less new opportunities going forward as they sharpen the saw More

Retail borrowers will see available capital from banks, life companies and conduits.  High-quality sponsors that invest in best-in-class assets with compelling locations in markets with strong job growth will have their choice of non-recourse capital at historically low interest rates.  Lenders seek properties occupied by the highest quality retailers deemed internet-proof such as grocery, pharmacies More

Small-balance multifamily lending will grow as the capital markets remain liquid and lenders scramble to get money out the door.  The small-balance multifamily space is well-positioned due to strong investment activity and a vast improvement in liquidity this cycle, due in large part to agency support.  Loan size limits will increase slightly, certain programs will More

Property managers will go all out to bring fresh blood to the multifamily industry and focus even more on keeping their best employees. With the low unemployment rate and new developments coming online, operators need all the help they can get. Keep an eye out for salaries to creep up as the pool of experienced More

Watch for parking to be heavily scrutinized more often by developers as both land costs and construction costs remain high. Parking is expensive to build and requires a lot of valuable real estate. While the demand is still there, the cost to build is only increasing. Due to sizing constraints for urban sites, most firms More

Converting older buildings into apartments will draw in patient equity investors like moths to a flame. Adaptive reuse deals transform functionally obsolescent office, retail, factory buildings, etc., into apartments by creative sponsors. These opportunistic situations will attract equity dollars as they are some of the few multifamily deals out there that consistently yield high-teen and More