Despite rising rates, slowing rent growth, and record new supply, multifamily remains one of the most sought-after asset classes among institutional investors and lenders. Capital keeps flowing because long-term housing demand, demographic tailwinds, and the relative stability of apartment income continue to outweigh near-term headwinds.

Office-to-residential conversions have emerged as a top real estate theme amid elevated vacancy rates. The opportunity is real — distressed assets at steep discounts — but so are the risks: construction complexity, zoning hurdles, and uncertain economics. Value creation is possible for the right building in the right location, but careful feasibility analysis is essential before assuming every vacant tower can become housing.