The Rent Roll with Jay Parsons

Michael Comparato, president and head of commercial real estate at Benefit Street Partners, brings banking roots and multifamily lending expertise. He discusses why distress is concentrated in older, lower-quality apartments. Short timelines on who will buy Class C assets, how private credit is reshaping lending, and what might finally push larger waves of distressed sales.

Carl Whitaker, Chief Economist at RealPage, shares his insights on the multifamily housing landscape. He discusses the complexities of demand, especially in light of the economy's uncertainties, and anticipates reduced supply moving into 2026. Carl explores the key drivers behind absorption trends, emphasizing migration and demographics. He forecasts modest national rent growth and highlights promising Sunbelt markets like Tampa and Raleigh. The conversation also tackles the impact of concessions on effective rents and offers a refreshing take on long-term investment themes.

In this discussion, Joshua Coven, an assistant professor at Baruch College and former NYU PhD, dives into his award-winning research on institutional investors in housing. He debunks common myths, revealing that institutions only constitute 0.5% of single-family rental sales and often enhance neighborhood access for renters. Coven's findings indicate that larger institutional scales actually lower rents and improve maintenance, countering the belief that these investors drive prices up. His insights challenge perceptions about the influence of institutions on homeownership and rental markets.

In this engaging discussion, Josh Hartmann, CEO of NexMetro and a trailblazer in build-to-rent development, shares insights on the booming BTR market across Sunbelt states. He explains why Phoenix became the epicenter for BTR projects and outlines his company's evolution, including current innovations in design and amenities. Josh also analyzes the unique demographics of BTR residents, reveals the sector's growth potential, and addresses concerns about overbuilding. Tune in for an enlightening take on the future of single-family rentals!

John Burns, Founder and CEO of John Burns Research & Consulting, shares his insights on the housing market's future. He predicts that 2026 may be a 'boring year' with modest home sales and stable rents. He discusses the impact of demographics, revealing shifts in household formation driven by immigration. Additionally, he notes the evolving role of master-planned communities integrating rentals. Burns also emphasizes the divided nature of for-sale and rental markets, urging for better integration of insights for effective strategies.

In this discussion, Mike Wolfson, managing director at Newmark, dives into the multifamily capital markets landscape and contrasts his 2025 predictions with reality, highlighting strong demand yet unexpected rent growth outcomes. He elaborates on robust debt originations and the shift of institutional investment toward the Midwest, spurred by recent market dynamics. The conversation also touches on buyer preferences for newer properties and the intriguing interplay between cap rates and interest rates as they explore the future of investments.

Andrew Kadish, CEO of CapREIT, shares his insights from his extensive experience in affordable and market-rate multifamily housing. He discusses the emerging 'green shoots' in the multifamily market, highlighting signs of recovery, particularly in Atlanta. Andrew also explores the challenges and potential solutions for increasing affordable housing availability. Additionally, he reflects on CapREIT’s origins and the amusing confusion caused by its name being shared with a Canadian counterpart.

Toni Eubanks, the incoming head of U.S. property management for Greystar, shares her impressive journey from on-site leasing to senior leadership. She discusses the evolution of property management and her goals for Greystar, emphasizing the importance of technology and proactive management. Toni also highlights the challenges of application fraud and the rising expectations of renters. With a keen insight into market trends and retention strategies, she provides a glimpse into the future of property management.

In this enlightening conversation, Tyler Christiansen, CEO of Funnel and a second-generation multifamily professional, dives deep into the transformative role of AI in rental housing. He discusses the balance between AI hype and reality, and how it could reshape job landscapes and operational efficiencies. Tyler outlines how centralization and AI can lead to significant cost savings while elevating employee roles. They also explore the impact of emerging technologies, partnerships, and the metrics to truly measure AI's return on investment.

Anne Olson, CEO of Centerspace, shares her journey from a farm upbringing to leading a public REIT in tertiary U.S. markets. She reveals why these smaller markets are outperforming larger ones, highlighting strong demand and low supply. Olson dives into the advantages and challenges of investing in these overlooked areas, addressing misconceptions that lead to undervaluation. She also discusses strategic expansions into growing locations like Salt Lake City and Denver, while maintaining a balanced portfolio. Insights on renter demographics and financial health round out the conversation.