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William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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Analyzing Retail and Multifamily Markets

March 29, 20243 min read

Analyzing Retail and Multifamily Markets

Moody’s CMBS (Commercial Mortgage-Backed Securities) view of Commercial Real Estate (CRE) markets offers a comprehensive analysis using a red-yellow-green traffic light symbolism. This symbolism categorizes markets based on their performance and indicates whether they favor tenants or landlords. As of the end of 2023, Moody’s latest assessment illuminates the current state of U.S. property markets.

Utilizing data from CBRE Econometric Advisors, supplemented with additional information, Moody’s scores markets on a scale of 0 to 100. A score of 0 to 33 represents a tenants’ market (red), 34 to 66 indicates a market on the edge of imbalance (yellow), and 67 to 100 signifies a landlords’ market (green).

In this latest analysis, the overall score stands at 59, a solid yellow, consistent with the previous quarter. Retail emerged as the top performer with a green score of 86, closely followed by multifamily at 75, industrial at 59, hotel at 39, CBD office at 36, and suburban office at 34.

The retail sector maintained its strength, boasting its highest score (86) since the inception of the data series. New supply combined with low vacancy rates contributed to its resilience, with only 1 out of 69 markets falling in the yellow category.

Multifamily experienced a slight increase, climbing from 72 to 75 in the last quarter. Despite higher forecast demand and slightly lower forecast supply, the vacancy rate rose to 5.4%. However, projections suggest a significant increase in unit deliveries for 2024, which may challenge this positive trend.

Industrial, on the other hand, witnessed a decline in its score to 59 from 63, marking the seventh consecutive quarter of decrease. Increased supply levels led to a national vacancy rate of 7.1%, with eight markets categorized as red, 37 as yellow, and 30 as green out of 59 markets analyzed.

The hotel sector saw a modest improvement, with its score rising from 38 to 39. However, post-pandemic recovery remains sluggish, with revenue per available room (RevPAR) growth rates still below the baseline target. Out of 65 markets, 22 were classified as red, 36 as yellow, and 7 as green.

The office sector continued to face challenges, particularly with the rise in sublet space and negative absorption. Central business district (CBD) offices witnessed a slight drop in their score to 36, inching closer to the red category, while suburban offices remained stagnant at 34. With 58 markets analyzed for CBD offices, 21 were in the red, 31 in the yellow, and 6 in the green category. Suburban offices encompassed 63 markets, with 18 in red, 39 in yellow, and 6 in green.

In conclusion, the latest analysis from Moody’s CMBS view offers valuable insights into the performance of various CRE markets. While retail and multifamily sectors continue to thrive as landlords’ markets, others such as industrial, hotel, and office sectors face ongoing challenges amidst changing market dynamics.

Should you need an experienced commercial real estate broker, please feel free to contact me at 281-222-0433.

https://www.houstonrealestatebrokerage.com/

https://www.commercialexchange.com/agent/653bf5593e3a3e1dcec275a6

http://expressoffers.com/[email protected]

https://www.tenantbase.com/advisors/bill-rapp/

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© 2023-2024 Bill Rapp, Broker Associate, eXp Commercial LLC

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© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory


RevPARsublet spacenegative absorptionvacancy ratesmarket dynamicsRetailmultifamilyCRE Marketslandlords’ marketindustrialtenants’ marketCBD Officesuburban officehotel
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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

Copyright ©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141 https://medallionfunds.com/bill-rapp/