The seller was Artis REIT.

I wanted to translate the luxury living of higher end apartments into more affordable solutions.

Each subset has its own unique value peaks and declines.

It also remains above pre-pandemic trends.

Annual multifamily rent growth has hovered around 1% for about a year following a rapid deceleration in 2021 and 2022.

Oversupply is helping Texas and Florida renters win concessions including free parking and discounted rent.

Walker & Dunlop arranged the financing with Aareal Capital.

This could lead to lower supply and higher rates.