Eric Stockley speaks with Dallas Business Journal on outlook for build-to-rent in North Texas

DALLAS, TEXAS (January 23, 2023) - Eric Stockley, vice president of Northmarq's Dallas investment sales office, provided his insights into the build-to-rent (BTR) industry in a recent Dallas Business Journal story titled, "Experts share outlook for build-to-rent in North Texas."

The article highlights that demand from both investors and renters wanting access to the asset class has set up the build-to-rent space to thrive in Dallas-Fort Worth this year and beyond.

"There is significant pent-up capital that is earmarked for BTR – over $85 billion in dry powder – creating a robust buyer pool," said Stockley. "However, these investors are requiring higher cap rates to hit the same return profile for their investment strategies. The obvious bogey affecting returns has been the hawkish movements by the Fed over the past year, which has doubled lending rates and created a larger bid-ask spread between buyers and sellers - affecting transaction volume in the sector."

This is not an issue specific to BTR or housing in general; it is affecting all product types nationally, he added.

Read the full story.

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