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Cyrus Shahabi, VP of Strategy & Chief of Staff, represented Lafayette Real Estate at the Information Management Network (IMN) U.S. Real Estate Opportunity & Private Fund Investing Forum in Newport, RI on June 19-21, 2024, and spoke amongst some industry peers on the "Build-To-Rent/Single Family Rental Market On Steroids" panel. Below are some insights from the conference and panel:  💸 Capital Formation -Investments in GP stakes are gaining traction: larger generalist Real Estate PE players recognize the value of expertise and vertical integration that specialized GPs bring to the table - There is liquidity for Joint Venture capital, but JV LPs are more focused on acquiring and recapping assets, than on committing to blind pool - assets catch attention 👀 - Increased amount of GP led secondary transactions as some LPs require liquidity but GPs don't think timing is ripe for asset dispositions  🏡 SFR/BFR specific insights - The optionality of selling BFR homes either to an institution or to individual home buyers is being proven: some players are selling off BFR homes one by one to retail buyers, friction costs are expected to go down over time - Don't forget to pay attention to your demographic demand when designing your homes (size, bedroom count, specs) - e.g. a 1,400 square foot 4 bedroom home might pencil on paper, but it won't work in practice - Multifamily inventory is not well suited for millennial families - only 12% of the inventory has 3 beds or more - It's not just about millennials, other demographic groups also want to rent single family homes, such as empty nesters

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