First Draft Live: Affinius Capital Partner, Ryan Krauch — The Bid-Ask Standoff Is Breaking. Affinius Capital Just Proved It

Affinius Capital closed a $3.4B take-private of Veris Residential last month, one of the largest multifamily transactions in years.
The deal represents a change in thesis for Affinius and perhaps for the industry, Affinius partner Ryan Krauch said on this week’s episode of First Draft Live.
In the cycle of zero interest rates and constant rate compression, multifamily investment had moved away from “what it is supposed to be,” he said.
“[Housing] is not meant to be tactical, opportunistic, high-yielding plays,” Krauch said. “Multifamily, from its origins, has really been more about income producing, downside protection, diversified income, inflation hedge, all the traditional things. So for us, when we looked at Veris, this was a great opportunity to really reset that framework.”