While COVID-19 has slammed many parts of the economy, suburban apartments are performing well for one company.
Chris Berry, managing director and co-portfolio manager for Barings, says several of the firm's close-in suburban multifamily holdings "have exceeded expectations since fourth quarter 2019." Berry says that Barings these properties, some of which are located outside of Boston, Denver and Austin, have experienced increasing rents and expect to keep occupancies high.
These suburban properties often rent at a discount to urban apartments, which broadens the pool of potential renters. That's valuable in times of economic dislocation.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
