U.S. Multifamily Reset: August Biniaz on Distress, Debt Maturities, and BTR copertina

U.S. Multifamily Reset: August Biniaz on Distress, Debt Maturities, and BTR

U.S. Multifamily Reset: August Biniaz on Distress, Debt Maturities, and BTR

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August Biniaz of CPI Capital joins Chris to unpack why his firm is bringing Canadian capital into U.S. real estate and why he believes the U.S. remains one of the most attractive rental markets in the world. August walks through his path from fix-and-flips and ground-up construction to launching CPI Capital, a firm built to help Canadian investors access U.S. multifamily and build-to-rent opportunities. Chris and August dig into the cross-border investing mechanics, including why Canadian investors look south for stronger yields, how withholding taxes and entity structures matter, and why CPI uses limited partnerships rather than LLCs for syndicated deals involving Canadian capital. August also explains how CPI recently created a vehicle that allows Canadian investors to use retirement accounts for U.S. real estate investments. The conversation then shifts to the current multifamily cycle. August shares why he believes Sunbelt multifamily is near the bottom of the cycle, why distress and repricing may create attractive entry points, and how CPI is evaluating a Dallas-area deal that has corrected significantly from its 2022 basis. Chris pushes on downside risk, debt maturity, interest rates, and macro uncertainty, while August explains why he believes conviction, basis, and business plan discipline matter most in this phase of the cycle. They also discuss CPI’s build-to-rent strategy, including duplex communities in San Antonio, a build-to-hold project in Denton, and why August views BTR as “horizontal multifamily” serving a growing renter-by-choice demographic. Key takeaways: Why CPI Capital was created to help Canadian investors access U.S. real estate How U.S. multifamily yields compare to similar Canadian markets Why cross-border tax structure, withholding, and entity choice matter How Canadian retirement accounts can be directed into certain real estate vehicles Why August believes Sunbelt multifamily is near the bottom of the cycle How CPI is underwriting distressed or repriced multifamily opportunities today Why CPI is focused on Texas and Florida, especially DFW, San Antonio, and Tampa How build-to-rent fits CPI’s thesis and serves renters by choice Join a community of passive investors. Start your FREE 7-day trial: https://passivepockets.com/?utm_source=youtube&utm_medium=description&utm_campaign=none Listen to the PassivePockets Podcast Anywhere: https://lnk.to/passivepockets Subscribe to the Passive Investing Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Join BiggerPockets for free: https://www.biggerpockets.com/signup?utm_source=owned_media Disclaimer The content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. Past performance is not indicative of future results. This podcast may contain paid advertisements or other promotional materials for real estate investment advisers, investment funds, and investment opportunities, which should not be interpreted as a recommendation, endorsement, or testimonial by PassivePockets, LLC or any of its affiliates. Viewers must conduct their own due diligence and consider their own financial situations before engaging with any advertised offerings, products, or services. PassivePockets, LLC disclaims all liability for direct, indirect, consequential, or other damages arising out of reliance on information and advertisements presented in this podcast.
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