Freeman Webb Company is reflecting on a growth year in 2023. The Nashville, Tenn.-based real estate investment and management firm announced its portfolio increased by 2,000 units.
Freeman Webb President Bob Freeman spoke of the year ahead in a release about the company’s growth. “We're going to see the ramifications of a higher interest rate environment for some people who bought their way into markets and overpaid for deals over the last few years,” said Freeman. “Those facing a transition from a 2 percent to an 8.5 percent interest rate, as an example, will be forced into cash-in refinancing, potentially leading to property sales and affecting market pricing.”
Freeman Webb Company plans for a continued path for acquisitions. “We’re probably in a unique position in that we have the ability to execute all-cash deals; that sets us apart, especially in a market where we’re seeing a lot of uncertainty,” says Freeman.
While there is plenty of uncertainty in 2024, the company is doing its best to be prepared. Freeman Webb refinanced 16 properties for new loans with lower leverage financing, “ensuring lower risk and enhanced long-term cash flow,” according to the release.
Among key metrics for the company in 2024 are delinquency and vacancy rates. Also important are concessions and debt coverage ratio—all factors to help determine the health of a market.