741: Multifamily Faces Big Headwinds, Office Is A Contrarian Play

In most markets, multifamily has faced multiple headwinds. Over supply has impacted Class A, B and C properties as renters have sought out lower rents plus concessions. Occupancy has become a challenge, and rents are flattening or contracting. At the same time, insurance costs have doubled or even tripled, and property taxes have doubled in many markets. Concurrently, operating expenses have also skyrocketed. Brian Levredge, President of Pinnacle Asset Management, owns 60’s and 70’s multifamily properties in Chattanooga. He also manages properties for other owners. Recently, Brian’s expanded into acquiring suburban office properties.