Nashville

The population out of major metros during the pandemic will likely create a heyday for the retail sector in smaller cities.

The firm has expanded its portfolio in Phoenix and Nashville with the purchase of two garden-style apartments in separate transactions.

The Nashville, TN-based firm announced the $81 million acquisition and renovation plans for the two apartment communities, situated near Colorado State University.

Partners Group sold the 88-property portfolio on behalf of a client, upon implementing a transformational, value-add program and securing 98% occupancy.

Vacancy rates for regional and super-regional malls shot up 90 basis points in a single quarter to hit a record 11.4%.

"If investors believe people will return to the urban core, there could be opportunities to invest ahead of that movement."

The portfolio comprises three build-to-suit, US government-leased, LEED-certified properties.

Phoenix, Seattle, Nashville, Salt Lake City and Las Vegas join the list, which highlights markets that are expected to outperform the nation.