The commercial real estate world often focuses on big-ticket transactions and institutional assets. But while the headlines spotlight downtown high-rises and office-to-resi conversions, a quieter trend is taking shape across Houston and other major Texas metros: office condo units are quietly trading—and at healthy numbers. It’s not loud. It’s not flashy. But it’s happening.

At RAI Commercial Group, we see this shift In the multifamily CRE market not as a return to the old normal, but as the beginning of a new cycle—one that rewards disciplined underwriting, market selectivity, and creative value strategies. With fundamentals strengthening and vacancy rates finally tightening, investors have a rare chance to recalibrate.

For many newer multifamily investors, the last 18 months felt like a holding pattern. Headlines focused on distressed Class A deals in oversupplied urban cores, while aspiring investors—especially those with one or two properties—hit pause. But beneath the surface, a shift is happening. And it’s not in the glitzy towers or institutional deals. It’s in the overlooked, mismanaged, underpriced Class B & C multifamily assets—particularly those within 70 miles of Texas’s major met