EMBREY Debuts Research Periodical, EMBREY Insights
New Publication Focuses on the Emerging Strength of Multifamily Investments
SAN ANTONIO, June 26, 2025 /PRNewswire/ -- EMBREY, a vertically integrated real estate investment company based in San Antonio, announced the release of its new research periodical, EMBREY Insights. The publication offers EMBREY's perspective on multifamily investment trends, providing subscribers with expert research, data-driven insights, and forward-looking commentary on the economic and capital market environments shaping the industry.
"We are excited to share the first edition of EMBREY Insights, the new research periodical we've developed to provide a direct look at how EMBREY is analyzing the multifamily market and what we're seeing in real time," said EMBREY Chief Investment Officer Garrett Karam. "Throughout the year, we'll break down the macroeconomic signals, capital market shifts, and real estate fundamentals that are shaping how EMBREY invests—and why."
Karam leads investment and capital markets activity for EMBREY. He sets strategic direction and drives performance alongside a talented in-house team, with a focus on maximizing returns, aligning interests and building long-term relationships.
The periodical is rooted in the actual data, modeling, and conversations that drive how EMBREY deploys capital. In the inaugural edition, Karam discusses the positive signs of multifamily investing and what compressing cap rates suggest about investor sentiment. In it, he tackles a common question from investors: Why should I buy or build apartments at low yields when I can earn 4%+ on a 10-year Treasury—risk-free? He outlines six key factors behind current multifamily pricing and explains why EMBREY believes today's environment presents real value.
While the past few years have posed challenges for the multifamily industry, particularly relative to the boom of 2020–2022, conditions began improving in the second half of 2024 and continue to strengthen. The U.S. absorbed 138,000 market-rate units in Q1 2025—the highest first-quarter demand in more than 30 years—signaling that elevated supply is being met with robust renter demand.
Though 2024 saw a record 589,000 units delivered nationally, the construction pipeline has steadily declined and is expected to fall below 300,000 units by 2026. At the same time, demographic forces—such as Gen Z entering peak renting ages and millennials continuing to rent longer—are supporting continued demand in key markets, which are expected to see increasing occupancy rates in the near term.
Lending activity has also shown renewed strength. CBRE reported that agencies loaned $22 billion to multifamily assets in Q1 2025, and the Mortgage Bankers Association noted a 39% year-over-year increase in multifamily loan originations. Combined with the affordability challenges in single-family housing and population growth in EMBREY markets, these factors contribute to EMBREY's bullish outlook on multifamily development.
"EMBREY is actively building in this environment. We're making strategic investments to leverage the current dynamics," said Karam. "We just broke ground on Flats at The Hatchery in Austin and have exciting multifamily developments upcoming in Charlotte, Orlando, Nashville, Denver and Phoenix."
To subscribe to EMBREY Insights, visit embrey.com/whitepapers. For partnership or investment inquiries, contact Garrett Karam at garrett@embrey.com and follow on LinkedIn.
About EMBREY
San Antonio-based EMBREY is a vertically integrated real estate investment company that develops, builds, owns and manages multifamily communities and commercial assets in select markets throughout the United States. EMBREY just celebrated 50 years in business with 50,000 multifamily units and more than six million square feet of commercial property completed in its history. As a leading developer in the multifamily sector, the company has more than 6,000 units under construction or in development across Arizona, Colorado, Florida, Georgia, North Carolina, Tennessee and Texas. For more information, visit http://www.embrey.com.
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SOURCE EMBREY