Multifamily Isn't Trading as It Used to Be, Right?

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The National Multifamily Housing Council said that sales had come to a virtual standstill, unquote, in October. Buyers aren't loving the returns they're seeing because rent growth is stagnating. But at the same time, sellers aren't budging on prices yet. In New York, Kushner companies put about a third of its Manhattan holdings up for sale.

Industry experts agree: Converting unused office towers to residential buildings is great in theory, but a moonshot to pull off. Despite the grab bag of obstacles that make these projects so difficult, the developer and office landlord Hines is getting in on the action. The Real Deal breaks down how Hines' Salt Lake City project pencils out and what it signals about the right building for the job.

Guests: Steven Paynter, studio director at Gensler's Toronto office; Dusty Harris, senior managing director of Hines' Utah and Oregon investment activity.