2026 Multifamily Leadership Series: Evan Kinne, GSP | AXCS Capital

The fourth year of Connect CRE’s annual Leadership Series focuses on the multifamily sector. We invited 18 apartment heavyweights to provide their unfiltered views of the current market, its challenges and opportunities. The insights of these power players have been collected in a downloadable report, and we’re also presenting them individually, in alphabetical order. Here are insights from Evan Kinne, Managing Partner, GSP | AXCS Capital.

What does construction lending look like in the current environment? 

Construction debt for quality projects with good developers in solid markets is extremely available. Lenders are competing aggressively on spread, terms, etc. 

Will rising gas prices and inflation affect development? 

Price instability by definition makes it more difficult to underwrite risk. The bigger problem impacting housing supply and keeping rents high in many markets is the regulatory environment. Entitlements are tough to get.  

Will we see an increase or decrease in rent prices this year? 

Market-dependent, given the challenge to generate new real estate stock, increasing supply, rents generally going up as demand increases… simple, really.  

Lower-income households spend more of their income on paying rent. Where does a solution lie? 

More supply. Remove the regulatory hurdles, and you’ll see more capital flowing into development.  

Los Angeles-based AXCS Capital is a technology-enabled CRE finance company that connects institutional sponsors with debt, joint venture and preferred equity, and C-PACE financing. It works through two arms: capital markets advisory via its George Smith Partners subsidiary, and direct investment via AXCS Investments. 

Click here to read the series.