https://www.510capitalcre.com/newsletter daily 0.75 2026-01-27 https://www.510capitalcre.com/newsletter/multifamily-whats-ahead-for-2026 monthly 0.5 2026-01-27 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/696f2b5b-0bde-4b38-b9d4-2588572221de/Screenshot+2026-01-27+113917.png Newsletter - Multifamily - What’s Ahead for 2026? - Make it stand out *MMG 2026 Forecast Report https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/ac9ebed8-4f65-418e-9fdc-bd845a48d19e/Picture2.png Newsletter - Multifamily - What’s Ahead for 2026? - Speaking of thinning supply, the U.S. apartment market is moving into 2026 with the development cycle firmly past its peak. After a heavy wave of deliveries in 2024 and 2025, new construction is now slowing, and we’re beginning to see a sustained pullback in unit completions. Nationally, multifamily deliveries are expected to fall to roughly 260,000 units in 2026, a meaningful step down from recent highs. *MMG 2026 Forecast Report https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/311c62f9-d292-422c-bf1f-9076b3d13dd5/Picture3.png Newsletter - Multifamily - What’s Ahead for 2026? - With apartment development cooling, where has the construction market shifted? Spending on data centers is set to jump 23% in 2026, rising from 2% to over 6% of the nonresidential construction market. Tech giants like Amazon, Google, and Oracle are investing billions in AI-ready facilities—undeterred by rising costs. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/d5ca816f-7a51-4833-ad72-faa82ddf4c92/Screenshot+2026-01-27+115012.png Newsletter - Multifamily - What’s Ahead for 2026? - Make it stand out December 10, 2025 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/cc235a44-3466-47a1-bcad-2cce817fcd6e/Screenshot+2026-01-27+115302.png Newsletter - Multifamily - What’s Ahead for 2026? - According to Intex and Morningstar, over $100B in CMBS loans mature in 2026, with over half likely to miss repayment. Instead of widespread defaults, many will be modified—historically a lower-loss path that gives borrowers time to recover. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/94a4c802-e2f8-462a-8e9f-11d32327498d/Picture6.jpg Newsletter - Multifamily - What’s Ahead for 2026? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/688981a7-4cc7-4763-b0d6-0a2f9903f44f/Picture7.jpg Newsletter - Multifamily - What’s Ahead for 2026? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/8676ef94-c864-432d-a684-8a8bf201c090/Picture8.jpg Newsletter - Multifamily - What’s Ahead for 2026? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/newsletter/multifamily-development-bonus-edition monthly 0.5 2025-12-04 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/fadb7aa8-da7d-4de2-bac6-b98767e48ff9/Picture1.png Newsletter - Multifamily Development – Bonus Edition! - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/bd5a184b-68a5-4d0f-8e67-d090d1a2b8cc/Picture2.png Newsletter - Multifamily Development – Bonus Edition! - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/54777c3e-bf36-477d-afbd-f40b860e3486/download.jpg Newsletter - Multifamily Development – Bonus Edition! - Hopefully, you found this helpful and now you won’t need to lay awake at night pondering the big question of multifamily development. Jokes aside, Ryan and I hope you enjoy time with your family and friends this Thanksgiving and Christmas! PS, real or fake Christmas tree? https://www.510capitalcre.com/newsletter/multifamily-renewed-momentum- monthly 0.5 2025-11-07 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/9a0490ac-1488-478b-ac85-e91c26c6543e/Picture1.png Newsletter - Multifamily - Renewed Momentum ? - Hey Team, After navigating a sharp reset from the 2022 valuation peaks, the US multifamily real estate sector is entering the final stretch of 2025 with indications of renewed momentum despite macroeconomic headwinds. The Federal Reserve cut rates 25 bps in September and October marking the central bank’s range at the lowest level since December 2022. Multifamily valuations have finally returned to positive territory (more commentary on this below). The recently passed One Big Beautiful Bill Act restored 100% bonus depreciation making real estate investment more appealing for savvy investors. Let’s jump in! https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/81cd50f5-886c-4153-9504-d54c973be6be/Value+Comeback.webp Newsletter - Multifamily - Renewed Momentum ? - Multifamily valuations had declined roughly 19% since 2022, or over 26% when adjusted for inflation. By mid-2025, according to Real Capital Analytics those values have finally returned to positive territory. This marked the end of 29 consecutive months of year-over-year losses. The Southeast U.S. is experiencing an unprecedented wave of capital investment, with companies building new factories, data center campuses, and logistics hubs across the Sun Belt. The region expects $264.7 billion in total investment, which will generate about 150,349 jobs. This pipeline is concentrated in EV battery manufacturing, clean energy infrastructure, data centers, aerospace and defense, and transportation logistics. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/1762529178794-6CZ8Y50AL2BC74CXNX24/sc.png Newsletter - Multifamily - Renewed Momentum ? https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/1762529214482-9D1THKNPQRKXND6VR4L7/nc.png Newsletter - Multifamily - Renewed Momentum ? https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/9ea9ba15-3cae-43d4-bd21-13c15d71de18/Special+Servicing+Rates.png Newsletter - Multifamily - Renewed Momentum ? - The CMBS Special Servicing Rate, a key indicator of loan distress, rose to 10.65%, the highest level since 2013. While this reflects growing stress in parts of the commercial real estate market, particularly office and retail, the multifamily sector remains relatively stable compared to other property types. As of the end of September, multifamily maintains the lowest special servicing rate of all asset types. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/5932715b-fb4f-425d-949b-bfe036be2028/Single+Family+Permits.png Newsletter - Multifamily - Renewed Momentum ? - Single-family permitting has fallen to its lowest level since 2023, when 30-year mortgage rates last peaked above 7.6%. This decline indicates that home builders are scaling back new projects in response to elevated borrowing costs and ongoing affordability challenges. At this stage in the economic cycle, the housing market appears to be in a cooling phase following several years of rapid growth and cost inflation. For builders and developers, the focus has shifted from expansion to operational efficiency—completing existing projects, managing cash flow, and preserving liquidity. While near-term activity may remain muted, this environment can create opportunities for well-capitalized developers to acquire land or projects at a discount, setting the stage for future growth once interest rates moderate and demand stabilizes. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/db8dbcbb-20d3-4843-bc25-035ad6352d64/Lending+Momentum.jpg Newsletter - Multifamily - Renewed Momentum ? - Lending momentum has rebounded meaningfully in 2025 after a sharp pullback over the past two years. While activity remains below the 2021–2022 peak, the index shows clear signs of stabilization and renewed appetite from lenders. This reflects improving capital market conditions, with borrowers and lenders re-engaging as interest rate expectations become more predictable. Overall, momentum is normalizing, suggesting healthier liquidity compared to the trough of late 2023. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/560907f8-0888-44fd-9228-3ddd70871ead/Picture2.png Newsletter - Multifamily - Renewed Momentum ? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/33851124-1abe-42cf-8f7c-18931000a371/Retail+Cap+Rates.png Newsletter - Multifamily - Renewed Momentum ? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/39743c8b-901e-4a8e-bcb5-1a8c7b10ea71/Picture3.jpg Newsletter - Multifamily - Renewed Momentum ? - In Summary: Ryan and I believe we’re in a unique window of opportunity for multifamily investment. Occupancy levels have stabilized, and new supply is being absorbed. We expect both occupancy and rent growth to improve through 2026. Additionally, the recent shift in interest rate policy is creating a more favorable lending environment, which we anticipate will drive renewed investor activity and gradual cap rate compression. Together, these dynamics point toward a period where well-timed, strategic acquisitions can benefit from both improving fundamentals and rising asset values. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/3f73798b-f125-47ed-9a81-b08367552324/Picture4.jpg Newsletter - Multifamily - Renewed Momentum ? - We’re under contract! This month we contracted on a small, off-market, 12-unit property in Greenville, SC. We’re really excited about this property – the location is great, the product is well constructed, and the basis is very attractive. Since this deal is “bite-sized”, we offered it to our current list of active investors first and we were fully committed within the week. What’s the adage – “good deals find capital.” That said, we’re thankful for your partnership and we’re excited to provide more details once we close. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/1c0c345c-21c5-4a86-9e06-1f19f044c392/Picture5.jpg Newsletter - Multifamily - Renewed Momentum ? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/9cb0cbd8-7919-43c8-9ea7-e9789b5cdf2f/Picture6.jpg Newsletter - Multifamily - Renewed Momentum ? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/newsletter/everythings-changed-pros-vs-joes monthly 0.5 2025-11-07 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/b6a38c58-e30b-4528-88ce-9b359fb0208c/Property+Value+by+Type.png Newsletter - Everything’s Changed - Pros vs Joes - The Trepp Property Price Index (TPPI) highlights significant shifts in asset performance across sectors (multifamily, office, retail, industrial). Since peak pricing in 2022, industrial has maintained strong values, reflecting continued demand for logistics and warehouse space. All other asset types have seen a 15–35% correction but seem to be leveling out as the market adjusts to higher interest rates and tighter capital conditions. For investors, this signals potential buying opportunities in sectors that have corrected but retain strong fundamentals. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/efb9da68-71db-4f01-873a-233f7f5247e1/Screenshot+2025-07-27+184108.png Newsletter - Everything’s Changed - Pros vs Joes - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/dbe31a55-1eea-4478-bbf6-2172470de1e3/Rent+Cafe.webp Newsletter - Everything’s Changed - Pros vs Joes - RentCafe’s Best Places for Renters to Live in 2025 Rankings reflect a clear shift in renter preferences. Southern cities now dominate the national landscape. Out of 150 cities analyzed, 41 Southern metros ranked for affordability and livability. Why It Matters - Renters are increasingly prioritizing a balance between affordability, opportunity, and quality of life. Remote work continues to reshape housing. Cities in Texas, Florida, and the Carolinas are boosting infrastructure and housing to meet growing demand from renters nationwide. Highlighting our markets below… #19 Greenville, SC #43 Asheville, NC #49 Spartanburg, SC https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/07a1ce94-5e87-4fec-add7-3788a2ed6219/Rent+Collections+Slip.jpg Newsletter - Everything’s Changed - Pros vs Joes - Rent Payments Hit New Low for Independent Landlords On-time rent payments slipped to 83.6% in July, continuing a two-year decline and marking the lowest trend since the pandemic. Even with only a slight dip from June, the overall forecast for full payments dropped to 93.4%, its weakest since 2020. Small multifamily units performed best at 84%, while larger buildings lagged at 82.4%—the widest gap in over a year. Rising consumer debt and delinquencies are adding pressure, making timely rent payments harder for many tenants. Currently at 510 Capital, we focus on the basics - making sure our buildings stay full, tenants are well screened, and rent comes in on time. As long as we continue to do our job well, we will weather whatever the market throws at us. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/6a7344dc-fb00-4037-9e23-93f7b0690e5f/Picture1.png Newsletter - Everything’s Changed - Pros vs Joes - Reshoring Impact I ran across this chart a couple weeks ago and thought it was fascinating. While some data seems particularly difficult to quantify, the thesis tells a compelling story for capital investment in the Carolinas. The impact of 'reshoring', where companies bringing jobs back to the U.S., bodes well for our region. South Carolina stands to gain an estimated 25,000 jobs, with North Carolina also adding over 5,000. It simply highlights the growing economic activity and the strong workforce we have right here in our backyard. We continue to feel good about what this trend means for our portfolio and the ongoing growth we're seeing in the area. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/cd775c49-3722-4a92-921b-1c49429cd2cc/Occupancy.png Newsletter - Everything’s Changed - Pros vs Joes - Multifamily Occupancy Multifamily occupancy across the board continues to stabilize. Class A apartments reached 95.7% in May 2025, the highest since June 2022 and a 1.7% jump year-over-year, the largest gain among apartment classes. Though Class A slightly trails Class B (95.8%) and Class C (95.6%), it has now surpassed its pre-pandemic average of 94.7%. Historically, Class C led occupancy, but that shifted in late 2023 with Class B taking the lead. Class A has faced challenges from new supply and resident turnover, but improving demand means all classes are now above pre-pandemic norms. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/991d4e16-15c8-48de-b0e9-785ac44bbf4b/Transaction+Volume+%26+Cap+Rates.png Newsletter - Everything’s Changed - Pros vs Joes I’m excited to share my favorite graph plotting CRE transaction volume and cap rates. While we’ve seen a slight increase in transaction volume, the stability suggests CRE may finally be adjusting to higher interest rates and moving past pandemic-driven disruptions. Additionally, deals are still getting done! https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/b3cde180-a547-4b1b-a2bd-0fd746a518bf/Screenshot+2025-08-05+104811.png Newsletter - Everything’s Changed - Pros vs Joes - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/d9b8fdc5-ab2a-4d79-a976-2c25804392b5/Picture2.jpg Newsletter - Everything’s Changed - Pros vs Joes - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/95be6c5e-c34a-44a8-afb9-fffc2b38be2d/Picture3.jpg Newsletter - Everything’s Changed - Pros vs Joes - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/newsletter/treasuries-amp-multifamily monthly 0.5 2025-11-07 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/4f136b67-0317-4d98-bade-bd90758b4c99/Picture1.png Newsletter - Treasuries & Multifamily…? - Q3 2025 (bonus edition) - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/newsletter/greed-in-capital-market monthly 0.5 2025-11-07 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/de06fe25-35c6-4da1-b1c8-dece81f1e2ed/Picture1.png Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/5446c939-15b1-4a2e-9536-52c5eb6de588/Picture3.png Newsletter - Greed in Capital Market - Q2 2025 On the development front, new supply is decelerating while demand is increasing. In Q1, net absorption rose by 77% year-over-year, totaling 100,600 units, significantly outpacing the 70,600 units delivered. This marks the fourth consecutive quarter where demand exceeded supply, resulting in the largest Q1 vacancy decrease on record. Strong absorption and tapering supply could help balance markets experiencing elevated vacancy rates due to prior construction surges, especially as multifamily apartment demand remains historically strong. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/d04984d3-6573-44a7-992c-5c3f5abb03e8/Picture4.png Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/be5e4f6f-b738-41c4-8e37-2cb64744b961/Picture5.jpg Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/3291b9ce-93f5-4e2b-bbe1-b72b7625f196/Picture6.jpg Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out BEFORE https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/bf797d1f-d278-482f-9849-1bb66c36d0c7/Picture7.png Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out AFTER https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/b646f758-030d-4883-99a3-2b6ceacd2935/Picture9.jpg Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/8d7b7cb4-758f-4a15-8850-ac74e1666da7/Picture10.png Newsletter - Greed in Capital Market - Q2 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/newsletter/fpgg6y6uh0wqe9utz2qvf9sib999wk monthly 0.5 2025-11-07 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/8846db3e-db87-40e6-955f-f7adf0124b6a/Picture2.png Newsletter - Interest Rates & Net Migration - Q1 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/c94a22dd-ebd2-490b-8e60-d966f890c921/Picture1.png Newsletter - Interest Rates & Net Migration - Q1 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/35f9465e-c5dd-41a9-b64b-b5c60b1946fc/Picture3.jpg Newsletter - Interest Rates & Net Migration - Q1 2025 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.510capitalcre.com/team daily 0.75 2025-11-25 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/27a91364-19dc-4da8-bf66-348a5511b1a9/ryan.png https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/2c0da97a-a4cc-46c5-9a58-be9d4b10fe64/IMG_20251115_171527.png https://www.510capitalcre.com/our-approach daily 0.75 2025-07-18 https://www.510capitalcre.com/get-started daily 0.75 2025-07-21 https://www.510capitalcre.com/home daily 1.0 2025-11-25 https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/27a91364-19dc-4da8-bf66-348a5511b1a9/ryan.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/89470f47-be4d-4dde-a83f-fe5382e79914/e3ff438c-4020-401d-aa50-7987eab48ea9.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/b2ebd49f-1be0-497c-aefb-434d4da1f1fc/4c153278-ab68-4c6c-be10-da04836a2472.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/220181b0-7631-4ab7-bfad-0ad18e949829/86ee57dc-d3d4-43b4-934e-163d546ece52.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/ebe92cf4-bab1-4e88-8918-15e4cd3a8004/89462e2c-99fc-42f9-96fd-f472c807e499.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/7e1bf0a8-e199-480f-a4af-cd3b2d23d403/IMG_20251115_171527.png Home https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/5453f8d0-9e22-42ac-b35f-56095825bf11/Our+Approach+%285+x+4+in%29+%288+x+3+in%29+%288+x+2.5+in%29+%284%29.png https://images.squarespace-cdn.com/content/v1/687ad050888ffc2b88d356c3/b468ffb1-6f8e-45af-af90-78a93617b458/generic.png https://www.510capitalcre.com/contact daily 0.75 2025-07-21