Connect Texas Multifamily: A Big-Picture View of Everything Apartment-Related

The recent Connect Texas Multifamily conference brought together brokers, developers, lenders and investors, who spent much of the afternoon networking and listening to panelists. Among those panelists were a broker, developer, two investors and two lenders, who made up the “Industry Leaders: A View from the Top” panel. Moderated by CBRE’s Aimee Morgan, the session focused on where the multifamily industry is now, where it’s headed, and the opportunities and challenges.

One issue bandied about involved costs. Westmount Realty Capital’s Brant Brown noted that, between debt, insurance, increasing property taxes in Texas and labor, “it’s harder and harder to buy and operate deals today.” This, then, led to the issue of how to control costs. Jeff Olshan with Passco told the audience that national contracts with large vendors is one way his company controls costs. Furthermore, a focus on renewals also helps. “It’s a lot easier to predict what will happen with a renewal, than with a new tenant,” he observed.

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