Who are the major players in this space? Is there overlap with multifamily development LPs? Do any vanilla build-to-core investors play in the space (PGIM, MetLife, etc)?
Hard to find anything on Google besides Bigger Pockets-tier BS. Thanks.
| +21 | PERE 100/200 | 1 | 11h |
| How to Evaluate Commercial Properties Before You Buy | 1 | 13h | |
| +6 | Acquisitions Experience Needed? | 3 | 7h |
| +4 | Hudson Advisors Superday | 2 | 2d |
| +4 | Nuveen Associate Case Study | 4 | 7h |
| +4 | Blackstone RE AM? | 4 | 18h |
| +3 | Dalfen Industrial | 0 | 10h |
| +3 | Land Development Discussion | 1 | 4d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Hi Analyst 2 in RE - Comm, don't worry, the WSO Monkey Bot is here.... I'm hoping one of these links will help find your answer:
More suggestions...
Fingers crossed that one of those helps you.
Bump
I don't know anything about this space, but my thought is that big institutions like PGIM and Metlife wouldn't be big players in condo developments because they lack consistent cash flow. I would think this product type would attract more HNW/foreign capital. Interested to hear more from someone with knowledge of this sector as well.
Condos have different LP participants compared to those in MF deals. MF deals do tend to have those more "conservative" LP participants that are life cos, asset managers, etc. MF deals provide steady cash flow, while condo developments carry a lot more risk.
PE shops probably take more of this space just because the big LPs have a lot of money they need to invest and they want to do it efficiently. It may take several years for a condo development to be done so they don't want to lock up a lot of cash there, especially if the market has the ability to change drastically within a few short years.
What luxury condos was CIM an LP in?
Nice, thank you. Any idea on who’s capital they’re investing typically in these types of deals?
. double post
While both condos and MF are, of course, housing, it’s pretty incredible how much riskier it is to build condos. Lots of developers in NYC that kicked off condo projects in 2013 and 2014 are still holding onto unsold inventory from those buildings. Much of that is due to oversupply and some developers would’ve made a killing had the market been more balanced, but such is the world we live in. Meanwhile, rental buildings in Manhattan are 98% occupied.
Est rerum dolores magnam a perferendis ipsam recusandae. Nihil libero distinctio et quibusdam harum aliquid harum beatae. Aliquid accusantium blanditiis et porro.
Omnis voluptatum iusto explicabo veniam harum natus atque. Eveniet nisi eum veniam non nemo.
Explicabo vitae sit minus qui et voluptatum. Itaque rerum cumque odit odio voluptas. Ex officia qui sapiente aliquam dolores. Ut et recusandae et et inventore. Tempore debitis assumenda commodi voluptas. Incidunt commodi aut officiis aut eaque similique. Nihil molestias atque fugiat ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...