CF CAPITAL | ELEVATING COMMUNITIES TOGETHER
Hello Friends, Partners & Colleagues,
Hope you and your families are having a great fall!
Fall always brings a reset—kids back in school, routines getting sharper, and in the real estate business, it’s a natural time to evaluate where we are and where we’re heading (though if we’re honest, we’re always doing that!). The past couple of years have been anything but smooth for anyone in our business, but we’ve continued to execute, adapt, and position ourselves for what’s ahead, keeping the long view in mind.
We’re excited to share a major win this month: in a challenging capital markets environment, we closed the refinance of one of our assets, Paddocksat Ridge Park, with a 5-year Fannie Mae fixed loan at 4.92%. It’s a deal that gives us long-term stability at the asset level, strengthens investment stability for our partners, and reinforces the resilience of our portfolio.
CF Capital is built for times like these—disciplined, steady, and ready to strike when the right opportunities align. With that, let’s dive into some market insights and updates.
Market Pulse: Midwest + Macro Realities
Midwest Holding Firm as Deliveries SlowNorthmarq’s Q2 2025 report shows rents in the Midwest still ticking up while deliveries are down ~10% year over year in H1. That gives existing assets breathing room. Vacancies shifted little, and cap rates averaged around 5.6% in the region.
National Growth is Soft—Demand SteadyYardi’s June numbers show U.S. asking rents inching higher, but only modestly. Month-to-month rent growth in May was just $6 on average. That tells us demand isn’t collapsing—but it’s cautious.
Midwest Poised to OutpaceAccording to July GlobeSt projections, Midwest and Southeast metros are expected to lead rent growth over the near term. In Columbus, forecasts call for 3.6% effective rent growth and occupancy holding near 93.5% despite new deliveries.
Takeaway:We’re not predicting fireworks. But in a market settling into baseline realism, fundamentals matter as much as they ever have. And in that setting, markets like ours—less speculative, more anchored—are the ones in position to benefit as momentum shifts.
Refinance Win at Paddocks
We’re proud to announce we closed the refinance for Paddocks at Ridge Park, locking in a 5-year Fannie Mae fixed loan at 4.92%.
This is more than just a line in a report—it’s stability (and materially reduced debt service burden) delivered in a market where stability is rare:
Huge thanks to our operations team on the ground and at the leadership level for optimizing the asset performance after the repositioning of the asset via implementation of a multi-year business plan—and to Bellwether Capital (BWE) for structuring and executing with precision. Their excellence made this possible!
| Perspectives: To Buy or to Build? |
| Buying early in the cycle and building later may feel intuitively correct, but our analysis of historical market data finds that the opportunity is more nuanced. It’s a commonly held belief that acquiring assets early in the real estate cycle (when asset prices are lower) and developing them later in the cycle (when prices tend to rise) is an effective investment strategy. However, digging into the historical data paints a more complicated picture. In fact, our research finds that the... [Read → HERE] |
| How the Federal Shutdown Impacts the Multifamily Industry Certain public housing funding has been obligated through November, but the Federal Housing Administration will not accept new multifamily mortgage applications. How will the federal government shutdown impact the multifamily industry? That depends on how long it drags on, and there are few public indications of meaningful negotiations so far, AP News reported. [Read → HERE] |
| CF Capital is building for what’s next—and that means adding the right people: Operations-Minded PartnerWe’re looking for a partner who can own the implementation of portfolio business plans, hound operations, and ultimately help leadership focus on growth. The long game: 15,000 units in 5–7 years. If you know someone who’s mission-driven and execution-obsessed, point them our way. You’ll find full job descriptions and application details via the link, along with a candidate guide attached. Feel free to share this broadly if you feel compelled. LINKEDIN POSTING |
| "We don't have to be smarter than the rest. We have to be more disciplined than the rest." - Warren Buffett |
Final Thoughts: Grounded, Ready, and Steadily Hungry
Yes, we’ve weathered storms (most of us have!). This isn’t a moment for us to rest on our laurels—it’s a moment for further execution. The refinance is a win we will build on to expand future optionality and growth. It’s all about stacking wins, addressing the challenges, and keeping our gaze above the trees so we can capture what’s next as we rely on fundamentals and discipline. As year-end nears, we expect to find deals that reward patience, and we will enthusiastically share those opportunities.
Thank you—sincerely—for your trust and your partnership. We’re glad you’re with us, and we’re excited for the next chapter together.
In partnership,
Tyler & Bryan
