Multifamily developer JPI recently hosted a roundtable with industry experts in Irvine, California. The panel included Payton Mayes, CEO of JPI; Jay Parsons, SVP of RealPage; Chris Porter, SVP of John Burns Research and Consulting; Rachel Parsons, senior managing director at Berkadia; Jon Tarnow, senior client executive at JPMorgan Chase and Dylan Feik city manager for the City of Monrovia. Moderator Isabel Sami served as lead real estate journalist from LA Business First.
The panel discussed economics and demographics related to both national and Southern California multifamily markets as well as development/construction brokerage banking and city government topics.
Mayes commented on new deal opportunities stating “We’re seeing the same amount of deal flow that we usually do but bid-ask spreads are wider due to some land sellers not adjusting their expectations with today’s capital market landscape.” He went on to say “There are still opportunities however from developers who have land tied up but can’t get capitalized.”
This roundtable provided an opportunity for industry professionals to come together discuss current trends in multifamily markets while gaining valuable insights into the future outlooks across multiple sectors within this space.
