Ballast Rock Real Estate is excited to announce the disposition of Holiday Cove Apartments, the fifth disposition by Sunbelt Multifamily Fund I (“SB1”).

Ballast Rock Founder and CEO Thomas Carroll recently was interviewed on Bloomberg Radio by hosts Tim Stenovec and Carol Massar to discuss trends in the multifamily real estate sector and even had the chance to speak about our Sunbelt Multifamily Fund III (SB3).

Ballast Rock Real Estate is excited to announce today’s acquisition of Stone Ridge Apartments, the first asset acquired by Sunbelt Multifamily Fund III (“SB3”).

The team discusses key themes and trends impacting the multifamily market as well as an update on dispositions being made by Sunbelt Multifamily Fund I and II.

Take a behind-the-scenes look at how we underwrote the first asset that will be acquired by Sunbelt Multifamily Fund III.

We walk through some of the qualitative and quantitative takeaways from our on-site due diligence.

Ballast Rock Real Estate launched SB3 because we found a specific asset that fits our strict quantitative and qualitative targets, but also because we expect to see some multifamily prices adjustment over the short- to medium-term.

Ballast Rock Real Estate team explain the core investment thesis behind their Sunbelt funds.

The launch of the latest Sunbelt fund (SB3) will continue Ballast Rock Real Estate’s focus on workforce multifamily in the U.S. Southeast.

As we look forward to the year ahead, Danielle Miner takes the opportunity to highlight some of the notable wins for the Sunbelt Properties team in 2023.

To date, the economy has proven to be more resilient than many had anticipated and there is still a small chance that we might achieve a soft landing, despite rates remaining higher for longer than expected. However, despite the relative health of the economy for now, the funding market for startups has been and continues to be extremely challenging.

The economy continues to appear relatively robust, though there are some signs of cooling, e.g., the 07/07 jobs report reflected a slowdown in job creation from previous months. We are also seeing rental growth in our markets start to normalize – with rent increases typically more broadly in line with CPI rather than significantly leading it, as had been the case for the last couple of years.

The broader U.S. real estate market is at a turning point after more than 12 months of rate increases from the Federal Reserve. According to research from Morgan Stanley Wealth Management, more than half of $2.9 trillion in commercial mortgages will need to be renegotiated in the next 24 months when new lending rates are likely to be up by 350 to 450 basis points.