“I think the opportunities are in multifamily,” he said. “It hit a bubble, and I think prices were reset, and I think there are opportunities for investors to pick and choose properties at a better basis than they could have three, four, or five years ago. We try to help them with those types of acquisitions, and we’re more comfortable because we’re 80% of a price that’s 30% or 40% less than it was three or four years ago.
“Then there are sectors within multifamily and sectors within industrial that are becoming bigger, like cold storage. And then in multifamily, you see student housing, which we do, and 55 and over, which we’ll look at.”
Hotels, office space struggling
One area that Good believes is improving is retail space, although he cautions brokers and lenders to be careful with those deals. He also believes that hotels are an area that requires the right situation to move forward.
“I think retail is better, but you’ve got to be careful,” he said. “I think you can find good retail to land on. I think hotels, you have to be very selective. I think hotels are tougher. One of our largest loans is a hotel. But we know we have a big sponsor, a big city, a big MSA, and a big flag. That’s what you need.”
Smaller hotel deals present a problem, largely due to the nationwide decline in travel. Las Vegas saw an 11.3% drop in visitors in June. Miami’s airport saw its first year-over-year decline in the first half of 2025 since 2017.