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Lument Launches Multifamily Investment Sales Platform, Led by John Sebree
Lument said Wednesday that it has launched a market-rate multifamily investment sales platform under the leadership of John Sebree, who has joined the company as senior managing director and head of real estate investment sales. Based in New York, he will report directly to Lument CEO James Flynn.
Formerly SVP of multifamily investment sales at Marcus & Millichap, Sebree served as national director of its Institutional Property Advisors (IPA) division. “Recruiting a high-powered executive like John, with an exceptional record in conventional investment sales, reflects our determination to quickly make our mark in this increasingly important area of commercial real estate,” said Flynn.
Since the beginning of 2024, the investment sales climate has seen a pickup in deal flow, albeit not on the level of pre-pandemic volume, Sebree told Connect CRE. He attributes that largely to lower volatility recently in 10-year Treasury yields.
“Over the past 90 days, the 10-year has remained relatively range-bound in the 4.2% to 4.4% range,” said Sebree. “When It settles down and it stops moving as much, that’s when buyers and sellers have to come to grips with what the true value is today, and not where they think it might be tomorrow because rates might move one way or the other.” Accordingly, the bid-ask spread has continued coming in.
That being said, Sebree said another headwind has begun blowing. “I’m hearing more and more investors mention the upcoming election,” he said. “And I actually think that that is also having an effect now.” The impact stems less from what the eventual outcome of the elections will be and more from the uncertainty that prevails in election season, he added.
Sebree said that over the years, “the debt aspect of the transaction and the investment sales aspect of the transaction have grown closer and closer together and it become more entwined. I have spent my career very much focused on the investment sales side of that equation. I’ve known some of the people at Lument for several years, just being in the industry, and they have always been people that I have a lot of respect for and have watched.”
Earlier this year, the Lument team “reached out to me and and asked me what I thought about building an investment sales platform with what I view as one of the best multifamily debt platforms in the business. And I thought this just feels like a fantastic opportunity.”
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