Matt Rauenhorst, Vice President, Real Estate Development
Years with Opus: 13
Project Credits: 365 Nicollet Luxury Multifamily, Oxbō Luxury Mixed-Use Development, Variant Luxury Mixed-Use Development, Lincoln Drive Apartments
Event: Bisnow’s Twin Cities State of the Market
Key Points
- Multifamily is a thriving sector in the Twin Cities compared to other markets. Investors and owners are seeing more a return. The most active multifamily areas in the market will continue to be the Minneapolis Central Business District and Saint Paul.
- The cost of construction is increasing, yields are getting skinnier and land sellers are asking for more money – all are increasing development challenges that we’re overcoming.
- We’ve found the best way to get equity is to create long-term partnerships with a few solid organizations.
- Senior living and healthcare continue to be safe investments. Senior living is recession resistant and healthcare demands are different, which drives new product.