Recently, Canada's AIMCO agreed to a 10-year joint venture with a passive institutional investor for a $2.4 billion portfolio in California. It is one example of a new trend identified by JLL—global investors seeking out multifamily assets as a defensive play.
"Housing demand remains high in many cities around the world and supply has struggled to keep up," says Gemma Kendall, head of multifamily investment, EMEA Capital Markets at JLL. "As a result, investors are viewing multifamily opportunities as more resilient than other asset classes."
JLL notes that investment in all commercial sectors fell 44% in the third quarter compared to the same period last year, investment in apartments only dropped 27%. All told, global Investors acquired $116 billion of multifamily assets in the first nine months of this year.
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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.
