Milic Sutic, MBA, CPA

What sets the top CRE daily valuation firms apart from the rest? For fund managers seeking to attract defined contributions, here are five core capabilities that define excellence in a valuation firm. https://hubs.la/Q03Ds3v_0 #Valuation #DailyValuation #CREValuation #AssetManagement #CREAssetManagement #CommercialRealEstate

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Blackstone invests $200m in Entrata to accelerate growth at $4.3bn valuation. Entrata has continued to scale its product suite following Silver Lake’s majority investment in 2021, and Blackstone’s backing further deepens the firm’s commitment to the proptech space. “We are pleased to invest in Entrata as they expand their technology for property managers,” said Brian Dunlap, Managing Director at Blackstone. Wilson Sonsini Goodrich & Rosati served as legal counsel to Entrata on the transaction. Read more: https://lnkd.in/dPQnXXNh #PEInsights #privateequity #investment #growth

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What sets the top CRE daily valuation firms apart from the rest? For fund managers seeking to attract defined contributions, here are five core capabilities that define excellence in a valuation firm. https://hubs.la/Q03DBTt70 #Valuation #DailyValuation #CREValuation #AssetManagement #CREAssetManagement #DailyNAVReporting #RealEstateGAVReporting #DailyValuationTechnology #DefinedContributions

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HUD Proposes MIP: Big Win For HUD Borrowers HUD recently proposed a 25 bps annual MIP for all multifamily loans (including existing and construction projects) - a move that could significantly improve project economics. Why it matters: • Applies to market-rate, affordable, and mixed-income projects meeting affordability thresholds • Could save borrowers $50K+ per $10M in loan proceeds • Improves feasibility amid today’s tighter capital markets • Reinforces HUD’s push to promote more housing Discover how Ken Buchanan, Richie Davis, and Charley Conkling see this reshaping HUD-insured financing and project feasibility: https://bit.ly/4lEfWWp #HUD #AffordableHousing #MultifamilyFinance #CRE #CapitalMarkets #WalkerDunlop

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Multifamily investors are navigating volatility with optimism for the future. Josh Bodin, SVP of Securities Trading at Berkadia, highlights the resilience of the market and the potential for a transaction boom with favorable conditions. Explore how emerging trends are impacting investor sentiment! #InvestorInsights #MultifamilyMarket https://lnkd.in/ei2iWCvu

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In today’s market, two nearly identical multifamily assets can trade at very different cap rates. What’s changed? Predictability. Volatility in rent growth and expenses is exposing the limits of traditional direct cap methods and pushing more investors toward discounted cash flow (DCF) modeling for deeper insight and more dependable valuations. In our latest article, we sit down with Troy Sivak, Senior Director of Valuation Advisory at Altus Group, to explore why DCF modeling is becoming essential for multifamily owners and investors in both the short and long term, and how centralized valuation tools are making it easier to model uncertainty with confidence. Check the comment section for a link to the article.

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Multifamily real estate in 2025 is set to evolve, and understanding the key trends is crucial for investors and industry leaders. Jeffrey W. Adler, Vice President of Yardi Matrix, joined Grubb Properties CIO Todd Williams for a data-driven discussion on the market dynamics shaping the year ahead. Watch the full webinar recording here: https://hubs.ly/Q036F1D_0

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Cap rate spreads have shifted dramatically in recent years, but what does that mean for investors? This video unpacks: • How cap rate risk premiums have evolved • Trends and benchmarks across CRE property types • Why cap rates matter, and why they sometimes don’t Gain perspective on what’s driving change and what it means for your strategy. Watch now and explore more insights: https://lnkd.in/gedDhTmf #cre #commercialrealestate #caprate

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🏠 New Industry Insights from Kaplan Real Estate Education's Survey of Trends The #realestate landscape is shifting—and Kaplan Real Estate Education’s inaugural Real Estate Survey of Trends reveals how agents are navigating this transformation. Among the highlights of the survey, which included responses from 750 licensed #realestateagents polled between May and June 2025: 📈 Nearly half (48%) of agents expect to grow their client base within the next year, a sign of renewed optimism as interest rates stabilize. 💼 The vast majority of agents (77%) plan to stay in real estate over the next 3–5 years, but burnout, income instability, and economic uncertainty remain pressing challenges. 🤖 Despite AI’s growing role in marketing and client engagement, 46% aren’t using it at all, and 52% believe brokerages aren’t preparing them for a tech-driven future. "The real estate industry is changing faster than ever, fueled by innovation, rising consumer demands, and fluctuating market conditions. Kaplan’s inaugural Real Estate Survey of Trends shows that success today requires more than passing exams—it demands continuous learning, market expertise, and strong client skills," said Toby Schifsky, vice president, Kaplan Real Estate Education. "We’re committed to giving agents the tools and training to leverage AI, generate leads, and thrive, helping them turn industry change into opportunity and sustainable career growth." What's clear: As the industry evolves, agents who continue learning, adapting, and embracing new tools will be best positioned to meet the moment. Read more 👉 https://lnkd.in/gvEWwfS3 #realestateindustry #artificialintelligence #ai

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Are we entering a new phase of yield compression? CBRE’s H1 2025 U.S. Cap Rate Survey reveals a market that may be in transition. Key Insights: - Cap rates declined slightly across all property types. - Investor sentiment is stabilizing, but uncertainty remains. - Multifamily overtook industrial as the most optimistic sector. - Tariffs and interest rate volatility have modestly dampened transaction volume expectations. - Office pricing shows wider spreads—especially in Class B & C assets. Read more: https://cbre.co/478pfJJ

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The underdog advantage? ---- Megatrend: Consolidation ---- Yesterday we posted about how the Apollo/Bridge acquisition is emblematic of rapid consolidation within the CRE investment management space. https://lnkd.in/gJHrGMX7 Large real estate investment managers keep getting bigger, forcing everyone else to adjust. Does that mean smaller funds can’t compete? Not necessarily. ---- Mid-Sized Fund Example ---- SROA Capital is an example of how a specialized, mid-sized manager can carve out a competitive edge. Their approach highlights five strategies that seem to be working: 1. Specialization Over Scale Large managers cast a wide net across asset classes. Smaller funds can win by focusing on niche markets where deep expertise creates an advantage. SROA, for instance, targets self-storage, a highly fragmented sector dominated by non-institutional owners. 2. Off-Market Sourcing Mega-funds typically require large portfolio deals, often limiting them to marketed processes. Smaller funds can focus on sourcing individual assets and direct-to-owner transactions, avoiding competitive bidding wars. Nearly all of SROA’s acquisitions have been off-market. 3. Operational Value Creation Rather than relying solely on market appreciation, specialized firms can create value through hands-on management, branding, and technology-driven efficiencies. For example, SROA enhances revenue through proprietary rate optimization and centralized marketing, driving NOI growth. 4. Investor Alignment and Flexibility Larger firms often have rigid structures and bureaucratic decision-making. Smaller funds can offer tailored investment structures, align interests with LPs, and remain nimble in capital deployment. SROA has structured funds to optimize long-term returns without typical GP-favorable features like catch-up fees. 5. Strategic Exit Planning Rather than competing with institutional buyers, mid-sized funds can build portfolios designed for acquisition. Aggregating smaller assets into an institutional-quality platform can create a natural buyer pool among REITs and larger managers, allowing for a premium exit. The trend toward consolidation is real, but opportunities still exist for those who focus on specialization, sourcing, and operational execution. Independent platforms that can demonstrate a differentiated strategy and strong execution still have room to thrive. Who gets your vote: Blackstone or SROA? PS - As always, this post is intended purely for educational discussion and is not investment advice or an endorsement of any platform or investment opportunity.

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Clarion Partners believes that the U.S. commercial real estate market is embarking on a new cycle. Unlike previous recoveries that were generally synchronized across property types and geographic markets, this cycle has the potential to be one of more meaningful divergences. Historically, factors such as stabilizing values, credit availability, and restricted supply (leading to strengthening fundamentals) have indicated a cycle beginning. All of those factors are visible in the market today. Read more in our latest whitepaper: https://lnkd.in/epR_yCiy #CRE #CommercialRealEstate

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“We believe we are in the early innings of a new real estate cycle, driven by the structural reset resulting from higher interest rates. At this point, it’s old news that higher interest rates have changed the valuation of commercial real estate. What DK’s research indicates, however, is that higher rates are likely to lead to greater dispersion across the commercial real estate universe.” In an exclusive interview with Institutional Real Estate, Inc. (IREI), Josh Morris, Partner and Global Head of Real Estate at Davidson Kempner, discusses how sector and regional dispersion are creating opportunity. Read the full article below. 

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As trillions in CRE loans mature by the end of 2025, the decisions investors make today will define tomorrow’s portfolio performance. Many are turning to innovative refinancing, joint ventures and tailored capital solutions to maintain momentum and open up new opportunities. JLL’s latest report highlights how proactive planning, data-driven decisions and market foresight can help investors not only manage risk but also position their portfolios for long-term success. 👉 Discover more: https://co.jll/476CRDt

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Leste Group Managing Director Ricardo Miracca Gennari recently published an article in Multi-Housing News about how private credit is playing a critical role in helping multifamily developers “persist to 2026.”     By adopting a long-term investment perspective, private lending institutions can not only support critical housing development but also position themselves to capitalize on favorable market dynamics in today’s undersupplied rental landscape, Ricardo noted.    Read the full article here: https://lnkd.in/eCnBDGKy     #RealEstate #Multifamily #PrivateCredit   

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EXPANSION NEWS: Griffin Capital Partners has expanded its Griffin Residential Investment Platform (GRIP) with the formation of Griffin Capital Residential Partners (GRP), a singularly focused build-to-rent (BTR) division focused on the acquisition, development and operation of purpose-built rental communities across high-growth U.S. markets. Integrating BTR investment expertise and capabilities into Griffin Capital’s substantial existing rental housing platform strengthens the company’s commitment to providing investors with compelling solutions across the rental housing continuum. https://lnkd.in/gmVBUr6K

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