Interest rates are higher than anyone expected a year ago and they’re continuing to rise. As a result, many purchasers of multifamily properties with high leverage bridge debt will not be able to get the extensions on their loans they anticipated and will be forced to refinance at rates the properties can’t support without injecting more capital. At this point, they’ll have to reach out to their investors to request more capital or sell at a loss. Either way, the outlook is not good. Brian Burke, CEO Praxis Capital and Author of the Hands-Off Investor, has been a real estate investor for over 30 years and says the debt component of these transactions will make or break these deals and that a lot of newer operators will have to face tough choices in the months to come.