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THIS WEEK ON FIRST DRAFT LIVE

Commercial real estate was supposed to break under the weight of higher rates and a wall of maturities. It didn’t.

Instead, lenders spent the past two years modifying loans, refinancing borrowers at higher rates and pushing maturities forward — keeping many troubled assets from hitting the market — allowing deal volume to rebound even as borrowing costs remain elevated and pricing stays stuck. The result is a market sending mixed signals: activity is up, but clarity is not.

So where did the stress actually go? And has it been resolved — or just pushed forward?

On this episode of First Draft Live, Bisnow sits down with Chad Lavender, president of capital markets for North America at Newmark, to break down how liquidity is really moving through the system, whether banks are truly back and what it will take to finally reset pricing in 2026.

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First Draft Live returns for Season 2, bringing with it a continued commitment to compelling conversations with commercial real estate’s leading voices. Inspired by our daily newsletter, The First Draft, Bisnow’s Editor-in-Chief / Chief Content Officer Mark Bonner takes viewers behind the scenes on what’s shaping everything from capital trends and policy changes to sector-specific activity, in discussion with the people making it happen.

We’ve hosted some of the industry’s top voices — and there’s more to come. Bring your questions, join the conversation, or catch the replay within 24 hours if you can’t attend live. Past episodes can be found here.

Interested in speaking? Contact our Vice President of Production, Elizabeth Baker, at liz.baker@bisnow.com.

Speakers and Panels

Bob Hart

Bob Hart

CEO

TruAmerica Multifamily

Mark F. Bonner

Mark F. Bonner

Editor-in-Chief / Chief Content Officer

Bisnow

Bob Hart

CEO

TruAmerica Multifamily

Real estate investment industry veteran Robert E. Hart is the founder, chief

executive, and president of Los Angeles-based TruAmerica Multifamily, a

vertically integrated multifamily investment firm with regional headquarters in

Arlington, VA; Seattle, WA and Dallas, TX.

Since its founding in 2013, TruAmerica under his leadership has become one of

the most active multifamily investors in the United States and today has

approximately $10.3 billion of assets under management. Hart is responsible for

the phenomenal growth and national expansion of the firm’s value-add

investment platform, which currently includes 46,000 units in 14 states. He has

led TruAmerica to a top 50 ranking of the largest apartment owners in the

United States the past four years by the National Multifamily Housing Council.

As CEO, Hart chairs TruAmerica Multifamily’s Investment Committee to skillfully

select value-add assets for acquisition, repositioning, and eventual disposition to

deliver outstanding risk-adjusted returns for the company and its 30 global

institutional partners.

With a career that spans nearly four decades, Bob is a recognized leader in the

multifamily industry where he contributes his time and energy as a board

member to a variety of industry organizations including the National Multifamily

Housing Council and the Urban Land Institute. Named one of the most influential

business leaders in Los Angeles by the Los Angeles Business Journal, he was also

recently recognized by Real Estate Forum as the “Best of the Best Bosses” in the

real estate industry.

Understanding the value of giving back, Hart also generously gives of himself –

both in time, talent and treasure – to a wide variety of charitable and academic

organizations, raising tens of millions of dollars to better the lives of others in his

community. For nearly 16 years, half as Chairman, Bob has been a member of

the board of directors of Chrysalis, a non-profit organization dedicated to

creating a pathway for homeless and low-income individuals to find and retain

employment in Los Angeles. Recognized for his professional and philanthropic

contributions to elevate the human condition, he was celebrated by the City of

Hope in 2017 with the Spirit of Life Award. He is also the proud recipient of the

Humanitarian Leadership Award presented to him by the Alumni Association of

his alma mater Worcester Polytechnic Institute. Hart is also a member of the

Board of Trustees of the Marlborough School in Los Angeles and a member of

Board of Governors of the City of Hope.

Prior to founding TruAmerica Multifamily, Hart earned industry accolades as the

transformational chief executive of Kennedy Wilson Multifamily Management

Group, a part of the NYSE-listed Kennedy Wilson global real-estate concern. Hart

envisioned and launched Kennedy Wilson’s value-add apartment portfolio

strategy that profitably acquired and disposed of more than 20,000 units in 13

years, with a total transaction value of more than $4.5 billion.

Previously Hart was senior vice president of portfolio management for global

real estate investment management firm, Heitman Capital Management where

engineered the turn-around and disposition of a $500 million property portfolio

on behalf of pension funds, endowments and domestic and foreign lenders.

Previously, he served as Director of Real Estate Marketing for Executive Life

Insurance Company, where he was responsible for the orderly liquidation of

more than $1 billion in real estate assets and securities.

Hart is a sought-after interview by leading publications, and has been featured in

The Wall Street Journal, National Public Radio, Bloomberg, The Los Angeles Times

and innumerable industry and trade media outlets for his insights into the real

estate markets.

Hart holds a Bachelor of Science degree in civil engineering from Worcester

Polytechnic Institute in Worcester, Massachusetts and continues to serve his

alma mater as a member of the Board of Trustees. He earned a Master of

Business Administration degree from the Anderson School of Management at the

University of California, Los Angeles and where he serves on the leadership

board for UCLA’s Ziman Center for Real Estate.

Agenda

Time Activity
4:30 PM
5:00 PM
Is This Multifamily’s Moment Of Truth?

Featuring President and CEO of TruAmerica Multifamily Bob Hart