JF 4103: Affordable Housing Incentives, Multifamily Cycles and Smarter Underwriting ft. Robert Beardsley

The Best Ever CRE Show

Best Ever CRE

Investing, Entrepreneurship, Business

4.7 • 996 Ratings

🗓️ 28 November 2025

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matt Faircloth interviews Robert Beardsley, partner at Lone Star Capital (LSCRE), about navigating the current multifamily cycle, surviving 2021–2022 acquisitions, and why the most resilient opportunities today hinge on debt structure, affordability incentives, and supply-constrained submarkets. Robert breaks down how Texas multifamily has shifted from a “prices only go up” environment to a more balanced but still competitive market, where Class B suburban assets with little new supply outperform shiny Class A developments offering heavy concessions. He explains how LS CRE avoided major distress by minimizing bridge debt exposure and shifting early into affordable-housing-driven acquisitions—leveraging tax-exemption partnerships with housing authorities to create stable NOI without risky value-add pushes. The two dive deep into rising treasuries, soft-landing odds, rent-to-income resilience, recession risk, Texas HB 21 fallout, and why hundreds of improperly structured tax-exemption deals may implode when exemptions expire in 2026. Robert BeardsleyCurrent role: LSCRE, Founder/CEOBased in: Houston, TexasSay hi to them at: https://lscre.com Start earning passive income today at gsprei.com/bestever Alternative Fund IV is closing soon and SMK is giving Best Ever listeners exclusive access to their Founders’ Shares, typically offered only to early investors. Visit smkcap.com/bec to learn more and download the full fund summary. Join us at Best Ever Conference 2026! Find more info at: https://www.besteverconference.com/ Join the Best Ever Community The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It’s free to join, but you must apply and meet the criteria. Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at⁠ ⁠⁠⁠www.bestevercommunity.com⁠⁠ Podcast production done by⁠ ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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2:03.2	What is happening in best ever listeners? Welcome to the best ever CRE show. I'm your host,
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