1st Quarter Report
April 2, 2026 – Bloomfield Hills, MI
IPO is pleased to announce our 2026 multifamily investment sales for the first quarter. Statistics and the current market outlook are also summarized below.
The first quarter started at a moderated pace, as bullish sentiment has been tempered by persistent “Rate-Cut Forecast” revisions and ongoing geopolitical distractions. Bigger forces are at play with a glut of loan maturities on the horizon. We are seeing a surge in transaction activity as a result, with owners proactively addressing their problematic refinances by pivoting to a disposition strategy. IPO expects a very strong second half of the year as these capital event tidal waves come crashing down and expect a robust 2026 overall.
- Q1 closed with 10 multifamily sales reflecting over $55M in transactional volume and 800 units sold
- IPO’s growing market share in the core Midwest multifamily markets solidifies us as the premier regional brokerage
- Varied Asset Profile: Market-Rate, Affordable, Student & Senior
- Markets: Detroit, Lansing, Kalamazoo, other Detroit MSA submarkets, and Columbus, OH
Momentum continues to build; with each passing month the market is becoming more accepting of higher cap rates and settling into interest rate territory that is unlikely to meaningfully decline, as market participants had hoped. Real estate turns slowly, so it has taken years for the market to adjust from the government-backed debt frenzy and 4% “easy money” loans. Additionally, insurance rates doubled labor, and the materials pricing issues created a rough 4 years. Although it was a difficult environment for many deals and operators, we successfully navigated it.
The operating fundamentals are so sound in our Midwestern territory that we have been able to navigate these headwinds without any major problems, unlike “growth” markets with oversupply issues and the dysfunctionality that those bring. We see a landscape poised for an increase of attractive trades as powerful market forces align. We see sellers feeling like they undersold and buyers feel like they overpaid – just where sentiment is supposed to be for a healthy market.
IPO has over 100 years of apartment brokerage experience under one roof. We do things differently than our competitors – the way we would want them done as an owners or investors. Our goal is to build partnerships that stand the test of time, deliver significant value for our clients, and in the process, create generational wealth. As you plan for 2026, let us show you the value that we bring to the table – contact us and let us know how we can help you with any important investment decisions.