692: Cracks Are Showing In Multifamily

Distress has emerged in the multifamily space. Lenders are taking projects back from sponsors and selling them for the debt or even taking losses in many cases. As a result, some great deals are being made by sponsors to capitalize on these situations and acquire solid workforce properties at a discount. David Lilley, Founder & CEO of Reap Capital, is acquiring 80’s vintage properties in Dallas and San Antonio at steep discounts. He’s also starting to consider expanding into Florida and Arizona. Reap capital is a vertically integrated multifamily operator based in Dallas.