2024 Year in Review: Benjamin Nevid, Meridian Capital Group

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? 

This year, we closed a $180 million self-storage portfolio deal with a large money center bank, spanning multiple high-quality properties across several states. As the highest loan-to-value financing for self-storage in the conduit market this year, the deal reflects continuing liquidity in both the asset class and the sponsors. Self-storage continues to gain momentum as a sought-after investment, with lenders demonstrating creativity, flexibility, and a nuanced understanding of the sector’s dynamics.

What emerging trends will drive investment and development in 2025? 

The new administration is expected to introduce policies favorable to commercial real estate, encouraging growth. However, uncertainty around inflation and Federal Reserve rate decisions persists. Banks are right-sizing their balance sheets, forcing borrowers to refinance or recapitalize challenging assets. This trend is expected to accelerate in 2025, driving price discovery. As banks’ health improves, lending activity should increase, creating opportunities for experienced sponsors to acquire undervalued assets. Lenders who adapt and collaborate with seasoned sponsors will play a critical role in recovery, driving innovation and paving the way for renewed development and expansion in 2025.