&quot;Currently multifamily is in the recession phase of the cycle...the perfect storm really is about rates, oversupply, and all these different headwinds making deals difficult to pencil.&quot; ~August Biniaz~ August Biniaz, co-founder and CIO of CPI Capital, has closed over $225 million in multifamily and BTR assets across 15 years in real estate. In this episode, August breaks down why multifamily is in the recession phase of its cycle and shares what he&#x27;s seeing on the ground in Tampa and San Antonio markets. From extend-and-pretend strategies to 80% of deals failing to transact, he gives an unfiltered look at today&#x27;s commercial real estate landscape. Learn More About: Why 80% of multifamily deals in their pipeline don&#x27;t end up transacting The extend-and-pretend strategy banks are using to avoid distress sales How oversupply in markets like Phoenix and Austin created downward pressure on rents The difference between Tampa and San Antonio distressed deal flow Why commercial real estate fundamentals remain strong despite current headwinds Connect with August Biniaz: Website: CPI Capital Podcast: Real Estate Investing Demystified

Navigating Multifamily's Perfect Storm With August Biniaz

Recession Resistant Real Estate Radio

# Full Transcript

**Podcast:** Recession Resistant Real Estate Radio

## Transcript

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To the recession-resistant real estate radio, where we talk about real estate, passive investing, business strategies, and so much more. I'm your host, Brandon Cobb, CEO of HBG Capital. Now, let's dive into today's episode. Hey, everybody, and welcome back to another episode. I'm your host, Brandon Cobb, and today I've got August Biniaz on the show. He is the co-founder and chief investment officer of CPICapital.

He leads their investment strategy, their acquisitions, their asset management. He's got over 15 years real estate experience, and he's been involved in closing more than $225 million in multifamily and BTR assets. He's also the host of the Real Estate Investing Demystified podcast. Go check that out. And he is a recognized voice in commercial real estate. August, welcome to the show. Brandon, thanks for having me. And to talk about kind of their radio voice, you got the radio voice and you got the TV face. So, it's a perfect combo there, my friend.

I've been told I have a face for radio, so, you know, I'll take that as a compliment, what you just said. It definitely is. So, everyone wants to know right now, you've got lots of experience in multifamily, and multifamily's kind of been a dog, quite frankly. I know I've seen tons of people on LinkedIn that were touting multifamily. They've changed their tune a lot.

But everyone's touting oil and gas and some other alternative assets, you know, medical office buildings. It seems like everyone has turned their back on multifamily online because there's been a lot of distress since the rate rise in 2022 and everyone who got caught in the bridge debt. I know tons of people who's had to file personal bankruptcies, operators who've gotten out of the business. I know people with multi-hundred million dollar portfolios that literally lost everything in that whole debacle.

What are you seeing in the multifamily right now? Because as distressed as it is, I also saw a post from Ken McElroy who...

Navigating Multifamily's Perfect Storm With August Biniaz

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Navigating Multifamily's Perfect Storm With August Biniaz

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.