Founded by three multifamily veterans, Modus Capital arranged the sale of 21 apartment communities for more than $400MM in its first year.
The client-focused investment brokerage firm is relying on its decades of experience — including navigating a few downturns — to provide stability during what could be an unpredictable year ahead.
“We understand the challenges facing the multifamily market and are comfortable advising investors and institutions as they recalibrate,” said Founding Partner Joshua Goldfarb. “The market is dealing with uncertainty, which financial institutions and investors don’t like. Modus is on the ground talking to buyers, owners and lenders to provide a clearer picture for our clients.”
Deal volume has slowed heading into 2023, and closings are taking longer. While assets are transacting, finding the middle ground is one of the main issues.
“Valuation is a challenge. With rents receding, investors think communities are worth one thing and sellers another,” said Christopher Lyon, Founding Partner. “With the market hesitant heading into the new year, it has to rely on intelligence and experience, which is our strength.”
Working with a roster of trusted clients — more than 80% worked with the partners before the company’s founding — Modus Capital focuses on long-term relationships.
Goldfarb, Lyon and Brad Simmel launched the firm as an alternative to the larger, process-driven real estate companies. The six-member team purposefully mirrors the entrepreneurial culture and nimbleness of its clients.
Goldfarb started Multi Housing Advisors [MHA] in 2002. He and his partner sold the company to Cushman & Wakefield in 2016, where he served as Vice Chairman until 2020.
Simmel most recently was Managing Director for Southeast Investment for CBRE, the country’s largest commercial real estate company. Lyon worked with Goldfarb at both MHA and Cushman. His team brokered the sale of more than 330 assets with an aggregate value of $4B.
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