Panelists Banks Floodman, director of business development, Sunflower Development Group, Fletcher Harder, project manager, Neighbors Construction Company, Michael Sullivan, founding partner, MMG Real Estate Advisors, and Nicole Yates, co-founder, Yates and Yates Co., gathered at the Homebase HQ last week with a sold-out audience to discuss the multifamily market at MetroWire Media’s 2022 KC Multifamily Summit.
Floodman said that construction costs and supply chain issues have forced his company to call upon equity sooner than it ever did before.
“Usually we’ll have equity last for the first six to seven months of the project as we do the site work, etc., but now we’re having to source FF&E and different sorts of materials to ensure that we can meet the deadline that we need to. And that equity, as you all know, is not free. . . Go to MetroWireMedia for the full article.