Iacono Talks Cap Rate Expectations for 2023
2023 is officially upon us! Crescit Capital Strategies CEO Joe Iacono kicked off the new year by sharing his thoughts with Commercial Property Executive on his expectations for cap rates in 2023. He points out that some asset types, such as office, are going to see larger cap rate increases vs multifamily.
“We’ll see cap rates rise 15 basis points in some products, 50 basis points in another, and 100 basis points in still another,” said Joe Iacono, CEO of Crescit Capital Strategies, an alternative commercial real estate lender based in New York. “The public markets are telling us their perception of cap rates relative to NAV. Multifamily cap rates are going to widen with higher interest rates – it’s just mathematics – but it may be not as much as in office.”
Read his full commentary in Joe Gose’s story for Commercial Property Executive here.