After the crackling hot 2021 for CRE REITs—funds from operations having grown 24.6% year over year—there's a sign that 2022 is off to a sharp start, though with some caution in the wings.
According to a new report from CRE data and analysis provider Markerr, Q1 multifamily REIT revenue growth saw a straight market average 9.6% increase over the same period in 2021.
"Double-digit new lease growth, low turnover, and high occupancy led apartment REITs to raise FY22 guidance," the report said. "On average, apartment REITs increased midpoint guidance for revenue and NOI by 100 bps and 130 bps, respectively."
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