Month: May 2021

In my journey as a real estate investor, I’ve focused primarily on properties with below-market rents. I’ve assumed that both rising costs of construction and competing housing options would pull rents higher over time. I’ve also counted on some downside protection on purchase price given the significant discount to replacement cost. The basic strategy has … Read more

The April Apartment Advisory from Berkadia-RealPage highlights the resilience of more affordable rents during the pandemic. Between March 2020 and March 2021, Class C assets were the only product type to average any rent growth. Additionally, the average occupancy rate among Class C assets in the past year has run about 60 basis points tighter … Read more

With a bit more evidence, it’s clear that last year’s “urban exodus” was always a bit more complex than this neatly labeled theme implied. By now, we all understand that lots of people left the largest, most expensive cities for cheaper, less dense markets. But an “urban exodus”? Did everyone leave Manhattan for a spacious … Read more