The economy has a significant impact on the multifamily industry, causing companies to adjust their strategies accordingly. However, solely relying on economic trends and intuition can result in reactive decision-making that can negatively impact investment performance. To remain ahead of the competition, companies need to evaluate properties thoroughly, using data, economic and historical trends. Radix ProForma provides a solution by enabling development and acquisition teams to create custom scenarios using real-time data, allowing for proactive decisions before underwriting begins.
Radix ProForma is a game-changer in the multifamily industry, providing teams with a fully customizable data landscape, real-time data, and historical trends, along with the ability to test potential scenarios in a private sandbox environment. With Radix ProForma, asset managers like Alex Killilee can create a custom comp set, monitor it for future investments, and make informed decisions based on the latest market data.
With years of experience using these tools, here’s what Alex had to say about leveraging ProForma to stay ahead of the market:
“As developers, we are speaking to property management firms or developers on any project. My ability to go into ProForma to create a custom comp until they’re live in the system or not, allows me to create an expansive submarket comp set and monitor it for future investments. Whereas you can’t do this with any of the other industry software systems. The feature to filter down and utilize the competitor summary gives me the courage to go back to the developers and say ‘yes, I understand we feel these extra cities need to be considered, however, are you aware of these new projects that just came online, because they need to be utilized to verify what our true amount per sqft is as we speak with investment communities.’ This has been huge in terms of making decisions in how we want to O&M a deal, take it out to market, etc.”
Radix ProForma’s real-time data gives teams a competitive advantage, saving time and capital in a constantly evolving market. In the early stages of multifamily underwriting, acquisition teams can use Radix ProForma to identify the best markets by analyzing real-time data and historical trends. For example, as of 01/22/2023, Nashville, Dallas, Houston, and Denver had the highest week-over-week traffic increases, according to Radix data.
Radix ProForma empowers development and acquisition teams to make proactive decisions based on real-time data and historical trends, providing a crucial advantage in a rapidly changing economic environment. Request a demo today to learn how ProForma can help you.
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