Berkadia's 2025 Multifamily Powerhouse Poll

The Multifamily Powerhouse Poll Outlook is an annual survey to Berkadia’s investment sales advisors and mortgage bankers. The goal of the poll is to assess the themes expected to shape investor and lender behavior over the next six months. Berkadia’s 2025 Multifamily Powerhouse Poll Outlook yields meaningful insights that help guide and inform our clients’ investment decisions.

Overall, Berkadia is cautiously optimistic about the multifamily market and is focused on these key findings heading into 2025:

• Investment Strategies and Challenges: Focus on Core and Core-Plus acquisitions, with Class A properties preferred. Rising insurance, labor costs, and interest rates pose significant challenges, making underwriting difficult.

• Economic and Market Outlook: The 10-Year Treasury yield is expected to be 4.0%-4.5% with two Fed rate cuts. New apartment supply is unlikely to outpace demand, with rental growth projected at 1-3%.

• Technology’s Role: Generative AI and real-time analytics are increasingly important in investment decision-making, enhancing market insights and performance predictions.