Deal Flow Friday

Taylor Avakian, Founder of The Group CRE and host of No Vacancy Podcast, and Farhan Mahmood, Partner at Trion Properties, dive into the dynamic world of multifamily real estate. They discuss the challenges of fluctuating market conditions in LA compared to other regions. The duo reflects on past lessons from the 2008 financial crisis and share insights on adapting investment strategies amidst rising interest rates. Plus, they explore the transformative role of technology and AI while emphasizing the importance of trust and relationships in real estate.

Ray Cleeman, Principal and Head of Capital Markets at Pensam Capital, discusses the shifting real estate landscape as interest rates rise. He highlights the transition from acquisitions to refinancing, emphasizing innovative financing strategies. Cleeman shares insights on the challenges of floating rate debt and the necessity of understanding macroeconomic factors. With a focus on partnerships, he explores how Pensam supports real estate sponsors amidst these changes while remaining optimistic about the long-term prospects of the multifamily sector.

In this episode, David Moghavem interviews Kevin McKenna, a seasoned broker in the Colorado Springs multifamily market. They discuss the significant population growth, the quality of life that attracts residents, and the military's influence on the local economy. Kevin provides insights into the geographic layout of Colorado Springs, the current cap rates, and investment opportunities in the multifamily sector. They also address common misconceptions about the market and share expectations for the future of the multifamily landscape.Chapters00:00 Introduction to Colorado Springs Market01:50 Population Growth and Quality of Life05:48 Military Influence on Employment10:19 Geographic Overview of Colorado Springs18:02 Cap Rates and Market Opportunities30:43 Investor Insights and Market Sentiment

In this episode, David Moghavem interviews Ryan Moody, Executive Managing Director at Newmark, focusing on the Orlando real estate market. They discuss the transformation of Orlando from a tourism-centric economy to a diverse employment hub, the various submarkets within Orlando, and the investment opportunities available, particularly in South Orlando. The conversation also touches on the challenges of insurance in Florida, the current market dynamics, and the outlook for future growth in the region.Chapters00:00 Introduction to the Orlando Market03:28 Why Invest in Orlando?06:21 Understanding Orlando's Submarkets09:41 The Dynamics of Downtown Orlando12:28 Growth in South Orlando14:41 Market Trends and Cap Rates19:44 Navigating Insurance Challenges23:14 Older Vintage Opportunities vs Flight To Quality in Orlando24:05 Investor Sentiment and Future Outlook27:35 Where in Orlando is the best buying opportunity?30:33 Biggest Mistake Investors Make Entering/Operating in Orlando34:57 [Lack of] Distressed Opportunities in Orlando37:34 NMHC 2025 Expectations

LA WILDFIRE - DONATION LINKS:⁠Red Cross Wildfire Relief Efforts⁠⁠GoFundMe.org Wildfire Relief Fund⁠⁠Los Angeles Fire Department Foundation⁠⁠Salvation Army Wildfire Relief⁠In this episode of Deal Flow Friday, David Moghavem invites Michael Brodie from Marsh Insurance, along with Max Sharkansky from Trion Properties, to discuss the current state of the commercial and residential insurance market, particularly in light of recent natural disasters such as wildfires and hurricanes. They explore the implications of taxpayer-funded insurance programs, the importance of resilience in property investment, and the evolving philosophy around insurance coverage. The conversation also touches on the future of construction materials and market trends, including predictions for insurance premiums and the challenges faced in the casualty insurance market. The episode concludes with a hopeful outlook for the insurance landscape as it begins to stabilize after years of volatility.Chapters00:00 Acknowledgment of Los Angeles Wildfires [Donation Links Available in Show Notes]04:14 Introduction, Max and Michael08:09 Understanding Residential Taxpayer-Funded Insurance Programs11:52 Resilience in Property Investment 18:17 The Balance of Coverage vs Premium21:26 Insurable Construction Standards vs Cost of Construction 24:38 How Catastrophic Residential Losses affect Commercial Insurance Market30:27 "Park Place & Boardwalk": Top Markets for Insurers? 33:16 Underwriting Trends in Adjusting Risk Models36:25 Predictions on Where Insurance Premiums are Going39:32 Casualty Insurance Trends

Henry Stimler, part of Newmark's Capital Markets team in New York, dives into the thriving opportunities within real estate. He and Ricky Warner emphasize the significance of relationships in multifamily lending and examine market trends heading into 2025. They discuss the bullish outlook for Columbus, driven by key developments like Ohio State University, while also highlighting the resilience of major cities. The duo covers the impact of interest rates on market sentiment and stresses the need for creative financing strategies amid economic fluctuations.

Max Sharkansky and Mitch Paskover, managing partners at Trion Properties, delve into their entrepreneurial journeys in multifamily real estate. They share insights on the shift to Miami and its lifestyle implications while reflecting on market surprises from 2023. The duo discusses interest rate predictions, the impact of tariffs on inflation, and the promising outlook for Atlanta and West Coast markets. They also explore investment strategies amid economic shifts, emphasizing suburban opportunities and cautious optimism for the future.