Month: March 2021

It’s natural for investors to ask how apartments have held-up during the pandemic. In normal times it’s hard to provide a useful answer given the idiosyncrasies of local markets. But over the past year, factors such as where the property is located (gateway coastal city vs. smaller sunbelt market), the level of rent charged, and … Read more

The latest Yardi Matrix National Multifamily Report paints a picture of a broadening recovery in apartment rents. In the report, you’ll find several of Cove’s favorite markets showing some of the most robust rent trends nationally, including Houston, Atlanta, Austin, Tucson, and the NC Triad. You don’t have to take Yardi’s word for it. The … Read more

There’s an old story about an economist who sees a $20 bill lying on the street but won’t pick it up. Relying on his academic training he explains that the market is efficient and if there really were a $20 bill in the street, someone else would have already snatched it. Well… having spent nearly … Read more

I was struck by this statistic highlighted in the Wall Street Journal’s Commercial Real Estate Weekly email. Putting aside my petty satisfaction in spotting a typo in the Journal’s infographic, the imbalance here struck me as fascinating. The implication here is that roughly 1/3 of all residential brokers have no listings. And if we assume … Read more

Given the dramatic move we’ve seen in interest rates in recent weeks, I thought it was important to revisit some of my own assumptions around how my chosen strategy, value-add multifamily real estate, might be affected. There’s no better way for me to organize my thoughts than through writing and sharing, so here goes. There’s … Read more