New York City is the top metro for multifamily investing this year, as high housing demand and a relatively stable rental market buoy the sector there.

According to Crexi data, asking prices for NYC multifamily properties have gone up 13% so far year over year, with average occupancy levels climbing to approach 79.1% on average versus 74% in 2021. In its ranking of the top 10 cities for multifamily investment, Crexi notes that the city is “known as a city of renters” where 67% of households rent rather than own while rents have increased 27% year-over-year, “offering a predictable rental income stream that multifamily investors seek.”

Rethink Healthcare Real Estate has acquired its seventh real estate leased to an emergency hospital in the Dallas-Fort Worth metroplex.

The Mansfield based property is leased by a joint venture of a healthcare system and Emerus and is operated by Emerus. The emergency hospital has been open for about seven years and has provided critical care to tens of thousands of patients.

Traditionally, a borrower would tap a balance sheet lender because of its ability to lend quickly and quite likely to build a relationship with the institution. If they wanted the best deal, though, they would go to a debt fund.

Now, with interest rates on the rise and because of the way these entities manage their own capital sources, the costs have become comparable, says one balance sheet lender.  “We are more competitive than we have ever been,” says Scott Larson, managing principal of Pangea Mortgage Capital.