"Unlevered IRR targets decreased by 9 bps in Q1 to 7.59%," they wrote. "All but two (Chicago and Philadelphia) of the 15 prime multifamily markets tracked by CBRE had either stable or lower IRR ...

The spread between going-in and exit cap rates showed a slight decrease to 11 basis points during the quarter. Following quarterly increases for two years due to rising interest rates, going-in ...