As consultant to real estate companies, Stuart Eisenberg may have a finger on the pulse of sentiments in the commercial property sector. And what he is sensing is that apartment investors may be starting to sit on the sidelines.
The global economic turmoil, the upcoming fiscal cliff, the fear of apartment overbuilding and the possibility of rising interest rates in future are all contributing to greater investor uncertainty, Eisenberg suggests. “To me, it does appear that investors are preferring to hold cash,” he says.
Eisenberg, who is partner and real estate industry practice leader at BDO USA LLP, says there are solid investment opportunities in multifamily housing today. All the same, he notes for example that investment sponsors are having greater difficulty creating real estate investment, including multifamily, funds today.
Read more...PROFILE: BDO | Multi-Housing News Online
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