Apartment and Warehouse Deals Start to Sputter as Rates StingJuly 22, 2022 – Media Mention
Real Estate Partner, Steve Lurie, shared his insight with Bloomberg regarding the decline of industrial properties and apartment complexes as interest rates continue to rise. Lurie has witnessed client deals for industrial properties and apartment complexes fall through as interest rates rose in May.
In June, a buyer withdrew a nearly $18 million offer for a new apartment building near Los Angeles. A backup offer came in this month for 10% less.
“The terms have changed,” said Lurie.