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Many operators over the last couple years paid exorbitant prices for assets and have been unable to increase income as planned. Expenses have also increased significantly more than anticipated. These factors, combined with escalating borrowing costs, will make it very difficult for operators to hold onto certain properties. As rates readjust upwards, there will be distress and opportunities for acquirers. Brian Estes, President of the Estes Group in Jackson Mississippi, has a background in repositioning distressed properties in the Gulf South states and looks forward to capitalizing on interesting opportunities on the horizon, especially Multifamily properties with 20-60 units.
