Rent Caps Gaining Headway and RE Syndication effects?

[Duke Giordano]

Hello All,

Whats your thoughts with the recent developments over the last year of more states adopting rent caps and how these have or will effect RE syndication deals?  This obviously would seem to effect Multi-family syndication the most, but not sure if this changes LP view on this asset class.  It seems there have been some caps in place in NJ, DC, parts of Md and now Oregon and CA looking to enact as well and possibly WA to follow.  Do you think this will effect future syndication options in these states?  How are you LP's out there approaching this development?

Thanks in advance

Duke