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Overview Partner Apartments is a multifamily investor active across the Midwest. The firm holds and manages apartment communities with an eye toward long-term value creation, and it relies on trusted advisers to move quickly when the right opportunities arise. For this assignment, Partner Apartments set out to sell one multifamily asset and reinvest the proceeds into another, all while satisfying the strict requirements of a 1031 exchange.
As interest rates remain high for most debt products, multifamily developers are seeking ways to exit their high-cost construction loans prior to the property being fully leased. However, qualifying for a new permanent loan can be difficult when an asset isn't stabilized or they are not achieving their proforma rents, leaving developers stuck between a rock and a hard place. This situation is becoming increasingly common.
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