A panel of Florida industry leaders were asked to look into their crystal balls and try to predict how things will shake out in 2024. They were on stage at the recent Connect Apartments 2023 in Key Biscayne, a ConnectCRE event.

Doug Faron, from Shoreham Capital, is optimistic regarding buying opportunities for multifamily properties. He says things will shake out because there will be a number of forced sellers due to the rate crunch.

Carlos Burrea, from Nuveen Real Estate, says they will likely rely on buying and selling because developing new properties doesn’t pencil out due to high interest rates and building costs.

Alfonso Costa Jr., from the Falcone Group, said 2023 was a year for reflection, to get a chance to define what the company finds most compelling to pursue in 2024. He added 2023 was a transitory year to gear up for what will likely be a hectic market due to the number of potential defaults caused by the high floating rates.

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