Lombard Equities Group

Announcing the August 2024 Edition of Lombard Insights: Why We Support Rent Control in Our Markets, but Oppose a National Policy, and other general commentary.

Rather than discussing the US Presidential Election, how about the major political changes on the West Coast? We've been saying now, for over a year, that something was afoot on the ground in Oakland, Seattle, Portland, San Francisco, LA - this election really proves this out.

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A deep dive on some of the trends driving insurance premiums through the roof. The impact on the real estate industry at large is significant.

LOAN CLOSED | Division Street Apartments | Portland, Oregon ? Ethos Commercial Advisors debt and equity advisory group recently placed an $8,300,000 loan for the refinance of Division Street Apartments, a 59-unit multifamily property located in southeast Portland, Oregon. The property recently stabilized after a successful interior and exterior renovation by the sponsor. ? Danny Natsch and Matt Illias sourced the 5-year, fixed-rate, non-recourse conduit loan with a national bank. The loan provided the sponsor max-proceeds and signifies a rare moment in time when CMBS wins multifamily properties over the agencies and banks. The loan featured full term interest only payments. ? Ethos was honored to be engaged by Arie van Gemeren, CFA of Lombard Equities Group Equities for this refinance. Lombard Equities executed a fantastic business plan at the property and proved once again they are a top-tier sponsor on the west coast. ? #Multifamily #Refinance #CMBS #PDXCRE #ClosedLoan

A great bit of work by our contracting crews on one of our properties. Often when confronted with these old fireplaces (which residents really can't or shouldn't use anymore, safely) we go for electric inserts. This was some outstanding work by our crew to make something really fresh and new for our residents.

Why standard deviation is an inadequate measure for risk (in our opinion) for long-term oriented investors.

Our thoughts on real estate performance in this recent inflationary cycle - most investors operated under the assumption that real estate is a strong inflation hedge. The actual (short-term) results are a bit more nuanced.

If you’ve been following our posts and newsletters, you know we often reflect on the mispricing of risk in the red-state COVID-era exodus locations, and how urban cores on the West Coast are (in our view) now overpricing theirs. Florida, in particular, has been the recipient of our ire for some time now. With over 100 years of boom-and-bust cycles in Florida real estate—just Google Florida swampland and the Great Depression—it’s not a huge shock that we find ourselves here once again.

In our September 2024 Lombard Insights newsletter, we dive into the details of a successful refinance on one of our properties—real stories from the front lines of real estate.