Austin, Texas — Alan Stalcup, Principal of GVA, has released a candid statement addressing the unprecedented market disruption that reshaped the multifamily real estate sector over the past two years.
The update follows a period of limited public commentary as markets experienced one of the fastest and most severe resets in modern real estate history.
“Before anything else, I want to say thank you,” said Stalcup. “The support my family and I received during this period — from calls, messages, and thoughtful conversations — meant more than I can fully express.”
A Period of Unprecedented Change
Following years of stability, the multifamily industry entered a period marked by rapid interest-rate increases, frozen transaction markets, repriced values, and significantly higher borrowing costs. These conditions tested even long-standing investment strategies across the industry.
Stalcup acknowledged that GVA was not immune to these challenges. Some investments underperformed, and capital was impaired — realities he described as weighing heavily on leadership throughout the cycle.
Perspective on Legal Matters
Stalcup also addressed legal challenges that became public during this period. Out of 509 investors across the GVA platform, two pursued litigation. While difficult and distracting, he emphasized that the overwhelming majority of investors remained engaged, constructive, and supportive.
“That perspective matters,” Stalcup noted. “Context matters.”
Commitment to Transparency
This release marks the first in a series of public updates intended to provide clarity around what occurred, what lessons were learned, and how leadership priorities evolved in response to historic market conditions.
A follow-up release will outline what specifically changed in the market, why conditions deteriorated so quickly, and how a proven investment model broke under simultaneous pressure.
Read the follow-up press release here:
What Happened — And Why It Unraveled So Quickly
Media Contact:
GVA Real Estate Group
Phone: (512) 948-7302
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