Ryan Epstein of Berkadia closed sales of apartment properties totaling $479.7 million in 2017. According to colleagues, he has positioned Berkadia as a dominant force in the Texas multifamily market.

The team’s sales in 2017 have meant significant investment by a variety of buyers, positively impacting the immediate submarket and the greater multifamily real estate market. These new investors will also provide additional resources, as they make capital improvements and otherwise improve the areas surrounding these properties.

In pitching Class-A properties to potential buyers, the recurring theme has been that the year-one cap rate is not the main driver of value. A buyer needs to look at the rent and income growth over the next few years to realize the full value of an asset.

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