Although Multifamily is facing challenges in sunbelt markets, and loan maturities are piling up, long-term fundamentals remain strong. Rents are holding, occupancy levels are in the low 90’s%, and collections are solid. There have been concessions because of excess supply, but even these are gradually starting to contract. Joe Fairless, Co-founder and General Partner of Ashcroft Capital, owns over 14,000 units in sunbelt markets. Joe is prioritizing Net Operating Income of his current portfolio and is selectively looking to acquire additional A to B+ properties with a large discount to replacement cost.
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