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February 2024

Newsletter

February 02, 2024•2 min read

In the first half of 2024, multifamily investments are poised for exceptional growth. With expectations of rate cuts in sight and an economy marked by resilient job markets and accelerating wage growth, this year presents a unique window of opportunity for real estate investors.

The multifamily market is primed for success, making it an exciting time to explore investment possibilities.

The Numbers

Market News

We're thrilled to share the reasons behind our decision to bring the Oklahoma City (OKC) market online. As part of our ongoing commitment to bringing you the best investment opportunities, we've carefully explored the economic landscape and the incredible potential OKC offers.

Economic Significance: Oklahoma City now contributes 41% of the state's GDP, showcasing its vital role in the region's economic landscape.

Economic Diversity: OKC boasts a diverse economic landscape, with top employers ranging from the State of Oklahoma, INTEGRIS Health and Tinker Air Force Base to private giants like Love's Travel Stops, Paycom, and Hobby Lobby.

Robust Job Growth: OKC's economy experienced significant job growth, with key sectors such as aerospace, oil & gas, transportation, warehousing & utilities, and health care seeing gains over 5%.

Strategic Aerospace Contract: Pratt & Whitney secured an $870 million dollar contract for long-term TF33 engine sustainment, solidifying Tinker Air Force Base's critical role in aerospace and defense. The contract, spanning until April 2034, reinforces Oklahoma City's position as a key hub for aerospace and defense operations, boosting the local economy and enhancing the nation's defense capabilities.

New NBA Arena: OKC residents voted to approve a $900 million dollar NBA arena, extending an existing tax without additional cost to residents. This new arena opens doors to hosting events like NBA All-Star Games and high-profile concerts.

As we step into 2024, Bright Peak Capital is dedicated to going the extra mile in understanding our markets. We dive deep to examine properties with precision, explore neighborhoods for potential, and building strong relationships with our trusted partners.

It's not just about the investment; it's about making a positive impact on communities while upholding our vision.

We invite you to stay connected and join us in a year filled with growth and success in the multifamily market!

Reach Your Summit

Jessica Sommers

Jessica Sommers is one of the Founders and Managing Partners of Bright Peak Capital, a real estate investment firm based out of the Greater Seattle area. As the head of financial analysis, Jessica utilizes her real estate and financial experience to significantly reduce risk and find the best opportunities to enhance property performance. Her attention to detail and critical thinking skills are utilized in all aspects of the asset, from locating and analyzing potential properties to remaining on-track and on-budget for property improvements. Jessica has 20 years of experience in the financial services industry, including mortgage lending and operational management. She understands the relationship between people and their money and is genuine in her desire to help others build generational wealth. This unique blend of analytics and heart is the key to Jessica creating valuable relationships and financial trust with her partners and clients.

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