First Capital REIT’s Post

An insight into single-family BTR within Greater Manchester 🏘️ Have you read our recent market snapshot report? Conducted by Ascend, in collaboration with The Association for Rental Living (ARL - formerly the UKAA), our first edition highlights unrivalled research & insights into SFR within Greater Manchester, arguably the most mature location for this asset class. The research draws on data across all of the stabilised SFR schemes within Greater Manchester under Ascend’s management, alongside data through our partnership with Experian on its Mosaic platform. As the UK’s largest third-party operator of SFR – with over 7,000 units under management, equivalent to two-thirds of this entire sub-sector – we have the largest set of live operational data for this asset class. Download the full report here 👉 https://lnkd.in/emSha2t9 . . . #BuildToRent #BTR #SingleFamilyHomes #SFH #SFBTR #SFR #PropertyManagement #Lettings #Newhomes #PropertyInvestment #Research #Reports

Valbridge at The Lodging Conference Richard Jander, MAI is already learning so much during his time at The Lodging Conference. During today's conference, speaker John Chang at M&M highlighted how the 50bp drop could unlock equity that has been sidelined. Richard has also spoken with others at Western Alliance Bank and a PACE lender—both mentioned a cautious market, with many buyers waiting for the election and another potential rate drop. Follow along for more information! #ValbridgePropertyAdvisors #MarketInsights #Conference #Networking #Houston #LodgingConference

Valbridge at The Lodging Conference Richard Jander, MAI is already learning so much during his time at The Lodging Conference. During today's conference, speaker John Chang at M&M highlighted how the 50bp drop could unlock equity that has been sidelined. Richard has also spoken with others at Western Alliance Bank and a PACE lender—both mentioned a cautious market, with many buyers waiting for the election and another potential rate drop. Follow along for more information! #ValbridgePropertyAdvisors #MarketInsights #Conference #Networking #Houston #LodgingConference

Valbridge at The Lodging Conference Richard Jander, MAI is already learning so much during his time at The Lodging Conference. During today's conference, speaker John Chang at M&M highlighted how the 50bp drop could unlock equity that has been sidelined. Richard has also spoken with others at Western Alliance Bank and a PACE lender—both mentioned a cautious market, with many buyers waiting for the election and another potential rate drop. Follow along for more information! #ValbridgePropertyAdvisors #MarketInsights #Conference #Networking #Houston #LodgingConference

It was great connecting with many of you last week at Information Management Network (IMN) ‘s #BTR Conference in Music City (Nashville). It’s always a pleasure and a privilege to meet face-to-face with the people that drive our #SFR industry in addition to meeting new groups looking to make their mark within #SFR. Here are a few of my personal takeaways from the various panel discussions, scheduled meetings, and random conversations last week. -       👷♀️ Developers continue to see success in the robust, retail sales market. So larger discounts on pools of completed properties are generally not appealing, especially heading into the spring and summer seasons.  There are a number of specifically built, contiguous BTR communities that are being offered pre-development in addition to end-of-quarter opportunities when sales teams have volume targets to hit. -       💰Larger investors and developers have established relationships with each other, but most mid-size and smaller groups are looking for a way to access inventory or capital in a scalable manner without having to manage a hundred individual relationships. Most groups are looking to find partners higher up the development chain to minimize the competition and share the potential risk through the development stage. Shameless plug, our team at Roofstock knows most of the players on both sides. -       💸 A&D (acquisition + development) financing rates are high and entitlement timelines (and delays) are expanding so land development has slowed resulting in a tighter pipeline of go-forward inventory.   -       ☝️ Elevated supply figures on the for-rent side are causing slower absorption in larger communities. Additional scheduled deliveries become a cash drag and are compounding the slower ramp to stabilization which should also affect underwriting of concessions and rental growth rates. Once the current for-rent supply is absorbed, we should see a positive impact to rental growth in subsequent years assuming the early concessions and resident underwriting aren’t compromised to hit initial stabilization. -       🤝 Consolidation of smaller to mid-size investors and service providers will continue for the foreseeable future as they haven’t been able to achieve scale as quickly as they once projected and are not able to wait any longer for a market correction or material adjustment that could naturally facilitate their originally expected growth. -       🛠 For continuous communities, like multi-family, on-site PM operations for leasing and maintenance are ideal for optimizing the investor and resident experience. Other random insights…. -       🚛 Buc-ees truck stops are a must see when doing market tours -       🎵 Twelve-thirty is a great place for dinner and live entertainment in Nashville. Kid-Rock’s joint is a jam-packed shoulder to shoulder party bar – the rooftop is cool, Tootsies is classic, and the Stage was a perfect median. Have a great week! 😁

Last week, I had the pleasure of showing Eduardo Martinez, one of New York's top brokers with Compass, around two of my penthouse listings. It was fascinating for two reasons: his take on the marketing of our Holland Park Gate listing and his insights into the US market. Just 10 days into our digital campaign with Lodha for the Holland Park Gate penthouse, the results have been exceptional. We’ve had over 1.5 million impressions and Eduardo’s visit was a result of this campaign. He had seen all of the imagery and remembered most of the key details - it’s amazing that we can engage brokers all over the world and have them fully engaged, from a campaign like this. In a market where buyers are the true currency, this level of targeted, trackable engagement is incredibly exciting. Eduardo also shed light on some interesting contrasts between the US and UK markets. In the US, properties typically sell within 60 days, and most buyers are domestic, unlike the seasonal, international market we rely on in London. What really stood out is the lower frictional costs in the US, where taxes are amortized annually rather than paid upfront. For example, in New York, property tax might be £10,000–£15,000 a year, making it much easier for people to buy and sell every 3-4 years, which is the norm. In contrast, London’s top SDLT rate of 17%, combined with modest capital growth, means it could take 7–8 years to break even. Eduardo was surprised that people even buy in London at all with these high costs. It is well known that stagnation, not negativity, is what really hinders a market. Yet, despite London’s higher costs of entry, Eduardo’s presence in London serves as a testament to the city's resilience and underscores its enduring appeal. (I will be writing a public love letter to London very soon!) His clients often have homes here or travel frequently. Eduardo’s presence proves that, despite political and fiscal uncertainty, London remains the top global capital for real estate—even according to its biggest rival, New York. https://lnkd.in/eBVnCbez

5 Takeaways from NMHC 2024! Several members of the Montgomery Partners team, Brady Stern Michael Piro Spencer Palmer, attended this year's National Multifamily Housing Council in San Diego! Here are their five key takeaways: 1. Transaction volume is down 50-60% on both the debt and sales sides of the business. Price discovery remains cloudy and positive leverage is a must to get deals done. 2. There is a need for interest rate stability, which we are starting to see following today's Fed meeting. 3. There is optimism about increased capital markets activity in the second half of 2024 and beyond. 4. New supply will remain a challenge for the next two years. Once those units are absorbed, we are optimistic about seeing increased rent growth in the markets we operate in. 5. It's critical to have a comfort level with the regulatory climate in our target markets. This factors into acquisition strategies for several groups within the industry. #multifamilyinvestments #realestateinvesting #commercialrealestateinvesting #propertyinvestment #passiveincomeinvesting #investmentproperties #realestateportfolio #rentalproperties #incomeproperties #realestateexperts #cashflowinvesting #investinrealestate #investmentopportunities #multifamilyhousing #propertymarket #propertymarketinsights #realestategrowth #norcal #renorealestate #coloradorealestate #socalrealestate #NMHC

City by City... Continue to be #1. I can assist you with your Real Estate needs - thinking of selling your home, wanting to know what it worth, when is the best time to sell (Spring is no longer the best time)? Oh, maybe needing to buy - Upsizing, Downsizing, Rightsizing - I am here to provide the best analysis for your Real Estate needs!!

Are you going to the Later Living Conference 2024 next week? We certainly are. Drop by the OakNorth stand on the day to speak to Priya Chauhan, Amelia Morton, & Joanne Giffin to learn more about how we can support your business growth. #LaterLivingPW #LaterLiving #DebtFinance #BusinessLoans

Discover our new London office with &Partner TGE! 🔍 We've just made the move from Mayfair to Bank, and TGE guides us through our new London space, nestled among the iconic Gherkin and Lloyds Building. Keep an eye out as Associate Director Kevin Calkiewicz shares insights on current rates and whether it's prime time to buy. 🏢💼 #charlesanddean #londonoffice #financeinsights #tge #financebroker #businessfinance #vehiclefinance