At the GlobeSt Multifamily Owners Forum 2026, Jerome Fink, Managing Partner at The Bascom Group, offered a candid assessment of the forces shaping multifamily transaction activity today. His central point: many apartment sales now reflect investors’ timing constraints rather than an owner’s judgment that conditions are right for an exit.
Fink described an environment in which raising equity has become exceptionally difficult. Some institutional investors are simply not responding, while others question the case for allocating to real estate during periods of strong stock market performance. That dynamic has reshaped how owners approach both sides of the transaction ledger.
For owners weighing dispositions, waiting for better conditions is not always an available option. Fink noted that owners often sell because of circumstances outside their preferred schedule, with a fund reaching the end of its term being among the most common drivers. Investors may also need to sell one asset in order to move capital into another investment, even when the broader market is unfavorable.
Those pressures make disposition timing considerably more complicated than simply identifying the best moment to sell. An owner’s contractual obligations and capital needs can dictate when a property comes to market, independent of pricing conditions or the owner’s own read on the cycle.
The observation carries a corollary that experienced buyers understand well: when sellers are motivated by structural deadlines rather than opportunism, well-capitalized acquirers with the ability to move decisively can find compelling entry points. This dynamic has shaped Bascom’s active 2026 acquisition pace, which has included Castlewood Park Apartments in Buena Park, California, The Ellison in Las Vegas, Domain 3201 in Tucson, and Jasmine Apartments in North Dallas.
Fink’s comments came during the session titled Beyond the Balance Sheet: Dispositions, Acquisitions and Strategic Asset Management, moderated by Kamran Paydar, First Vice President at CBRE Group. The panel examined how investors are navigating current constraints, from evaluating acquisition opportunities to strengthening property operations ahead of a sale.
Since 1996, The Bascom Group has completed over $23 billion in multifamily value-added transactions encompassing 368 properties and more than 94,272 units across 20 states. That depth of experience across multiple market cycles informs the firm’s view that disciplined capital deployment during periods of constrained liquidity often produces the most durable long-term outcomes.