Throughout the pandemic, in commercial real estate, there were two commonly acknowledged investment standouts: industrial and multifamily. They made sense. An upsurge in e-commerce made the need for warehouses, distribution points, and logistics facilities paramount.

Then there was multifamily and its cousins, single-family rentals and build-to-rent. They're hot markets and some big investors are balancing the categories to gain advantage from both.

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WHY SFR IS DOING SO WELL

The success of SFR is, as they say in science and engineering, a special case of multifamily. To understand the former, you need to grasp the dynamics of the latter.

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