In early February, several of the largest apartment REITs in the country signaled a striking shift in capital allocation. Camden Property Trust is marketing eleven properties valued at roughly $1.5 billion. UDR […]
For the better part of three years, the multifamily investment community has been waiting. Waiting for rates to settle. Waiting for price discovery. Waiting for the bid-ask spread to narrow enough that deals could actually […]
After recently acquiring 8 properties across 6 states, we’ve learned the hard truth: rent roll reviews, systems upgrades, and property care standards only work when you have the right people implementing them.
The current market makes […]
In 2018, we sold a 2001-vintage apartment community in Mesa, Arizona at $178,000 per door. Within two years, the property changed hands again—this time for over $300,000 per door. Today, it trades closer to $225,000 […]
Sophisticated investors understand a fundamental principle: provide value first, capture returns second. You don’t expect your capital to compound before you deploy it.
At PEM, we look for operators who think the same way.
It sounds straightforward. […]
The conventional wisdom in multifamily real estate seems straightforward: higher quality assets deliver lower returns with less operational headache, while lower quality properties offer higher returns in exchange for more hands-on work. After thirty years […]
Real estate is an excellent investment, but you can never be forced to sell it at the wrong time. That principle has guided every financing decision I’ve made over the past 30 years, and it’s […]
Most investors see property management as a cost center. After thirty years and five market cycles, I’ve learned it’s either your greatest competitive advantage—or your silent wealth destroyer.
The numbers reveal a structural flaw that quietly […]
Picture this: Billions of dollars sitting in funds specifically designed to capitalize on market distress, with fund managers checking their phones daily for news of the next wave of foreclosures and fire sales. The problem? […]
The call came on a Tuesday afternoon. Prudential Life, through one of our long-standing broker relationships, was considering selling Bellary Flats—an institutional-quality asset that had never hit the public market. They weren’t looking for the […]
