During the Mardi Gras break, we welcome on Seth Johnson, a partner at 388 Ventures. With his wealth of real estate experience and insight, he’ll tell us about the impact of COVID and how it got us to this point. We’ll discuss the challenges that developers and project sponsors are facing, the emergence of a new, alternative lending market, and the banks’ current decision tree. Seth also gives his outlook for multi-family and the real estate market as a whole and what we should be looking forward to during and after this high-interest rate cycle.
Key Takeaways
[00:15] - Meet Seth Johnson, partner at 388 Ventures [01:51] - What happened during COVID and what’s happening now [04:20] - Bid ask challenges for developers/project sponsors after optimistic underwriting [07:22] - What do banks want to do now? And what options do borrowers have? [11:57] - The short and intermediate-term forecast for real estate [17:39] - The long-term outlook for multi-family [20:20] - Capitalizing a deal in today's environment
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