The CRE transaction market remains muted and continues to wait for lower interest rates and for the roughly $425 billion of unlevered dry powder of private equity to come off the sidelines in order to pick up, says UBS Global Wealth Management in its latest Private markets report.
The report states that it anticipates a turbulent 2024 for the multifamily sector but that strong demographics, migratory patterns and job creation from 2025 to 2030 will create more opportunity in the multifamily space.
While capital access from traditional CRE lending sources is more restrictive today, the report’s authors state that it believes the capital environment is “substantially better” today than during the GFC.
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