One of the advantages that the Sun Belt offered CRE investors has been bigger opportunities, especially in the critical multifamily sector. But that may be slipping away, according to new information out from data and analysis provider Markerr.
According to its 2Q22 REIT Roundup, in which it looks at multifamily, for the first time since the pandemic onset, year-over-year revenue growth was higher in coastal apartments, at 13.1%, than in the 12.4% for Sun Belt apartments. "However, Coastal Markets benefited from the easier comp period as well as the normalization of bad debt," the firm added.
Major apartment REITs across the board raised their guidance but did warn of a slower second half of the year. On average, they projected about 11% growth for the full year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
