Sean Rawson, co-Founder/Head of Acquisitions at Waterford, doesn’t expect to get construction financing for the next 18 months despite the fact that Waterford has 2,000 market-rate units at varying levels of entitlement. Instead, he’s focused on acquisitions citing opportunities in Orange County where some distressed apartment investments appear to be available at about 70% of replacement value. MSCI (Morgan Stanley International Capital) shows about $7.5 billion currently in distress nationally. MSCI is predicting that amount to explode to $65.7 billion in 2024, a near 9x increase. 9x. That’s a staggering increase. We’re just at the inception of the coming wave of distress. The ‘grave dancers’ (Sam Zell’s nickname) are beginning to circle. Buckle up.  

 

They’re Starting to Circle 

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

Please find us at svikhart.com or contact us at 801-550-5684 to learn about the real estate services the firm provides. To subscribe to the firm’s newsletter addressing events of the day please follow this link Newsletters.