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Nmhc takeaways: flurry of industry conferences shape cre finance outlook

NMHC Takeaways: Flurry of Industry Conferences Shape CRE Finance Outlook

January 30, 2025

The 2025 commercial real estate conference season kicked off in high gear earlier this month for those of us in the mortgage banking industry. In a short span of weeks, the cross-country journey took us from CREFC in Miami to the IMN Private Equity & Fund Conference in Laguna Beach to NMHC in Las Vegas and wraps up in San Diego next month at MBA’s annual conference.

The Slatt Capital team offers the following six key takeaways from the NMHC event that was held this week. I attended the conference along with Slatt colleagues David Bruni and Joseph Pellizzon.

  1. We clearly sensed a positive overall mood among the more than 6,000 attendees in Las Vegas.
  2. It is projected by many industry experts that multifamily sales will increase substantially in 2025 as the “bid/ask spread” between buyers and sellers has narrowed.
  3. The market is liquid for financing multifamily properties. Agency lenders, CMBS lenders, Life Co’s, Banks and debt funds are all active.
  4. A handful of larger construction lenders are experiencing elevated levels of activity with increased demand for large construction loan requests as short term interest rates drop and construction prices stabilize.
  5. Rent growth is moderate to stable in most major markets throughout the country.
  6. Though interest rates (Treasury Indices) have increased significantly since September 2024, investors are adjusting to the new normal, now that interest rates appear to be appropriately priced.

As we continue through the 2025 conference season, it’s clear that optimism is returning to the multifamily market. With increased liquidity, stable rent growth, and a narrowing bid/ask spread, the outlook for the year ahead is promising. While interest rates remain a key factor, industry players are adapting to the evolving landscape.

Stay tuned for more updates as we wrap up the conference season and dive deeper into the trends shaping the future of commercial real estate. Here’s to a productive and prosperous 2025!