David Nasatir Discusses Commercial Real Estate and Multifamily Investments in Benzinga
Obermayer Chair David Nasatir was interviewed by Benzinga on March 17, 2023, in connection with the failed Silicon Valley and Signature banks and the halt of commercial real estate (CRE) investment and sales.
“Multifamily investment is dead. The rates are too high. Any kind of new construction is dead, and the corpses are still warm. That’s how fast it happened,” said David. “I think this all stopped long before the bank panic. Those waiting on the sideline for a month, hoping things were going to change, are now done. I really think we’re looking at a year and possibly two years until they get back in the game.”
David ended the interview with advice to his CRE clients.
“Calm down and stay cool. Monday was a rough day. People were concerned. I’m not telling them to do or not to do deals, but I want them to stay calm. Overall, I’m hoping my pessimistic attitude is wrong.”
Read the full interview here.