CHICAGO, IL – Interra Realty Co-Founder and Managing Principal Jon Morgan was recently featured in a Globe St. roundtable article on the multifamily industry:
Stronger Price Alignment Now Than Q4
Jon Morgan, Co-Founder and Managing Principal of Interra Realty, tells GlobeSt.com that in middle-market multifamily sales, he’s starting to see a stronger alignment between buyer and seller agreeing on bid versus ask than they were in the fourth quarter.
“Then, sales remained very strong in our space,” Morgan said. “There has clearly been some adjustment in both buyers’ and sellers’ minds to help bridge prior gaps in pricing. We have properties that we previously had on the market in prior years that did not transact. Many of these are now going to contract with renewed seller mindsets and rental rates that were materially stronger than they were during our prior efforts that have helped offset interest rate impairment to value.”
Read the full article at Globe St.