2023 Mid-Year U.S. Economic Update
On June 22nd, Berkadia proudly hosted its Beyond Insights 2023 Mid-Year U.S. Economic Update Webinar. CEO Justin Wheeler and President Randy Jenson were joined by Randy Quarles, Former Vice Chairman of the Federal Reserve System and Chairman of The Cynosure Group, who offered perspective into the current economic landscape – and its anticipated impact on commercial real estate in the latter half of this year.
- The multifamily sector remains a favored asset class by many investors and the pace of apartment absorption is picking up again in 2023
- Despite an elevated supply pipeline, annual rent growth and year-end occupancy are expected to be near or higher than the pre-pandemic averages
- The apartment sector remains the largest and most liquid portion of the commercial real estate investment market in the U.S.
- We are seeing more investors raise funds to acquire distressed assets or fill gaps in the cap stack by providing preferred equity and mezzanine debt