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gary bechtel Gary Bechtel

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“Millennials are moving to the extremes when it comes to multifamily housing preferences, and developers should begin to take note,” Gary Bechtel, president of tech-enabled commercial real estate lender Money360, tells GlobeSt.com. Bechtel has seen shifting housing demand in the market among millennial and gen-Z renters, with shared co-living spaces rising in demand on one end of the spectrum and luxury apartment living on the other. These changes in housing demand should be informing investment strategy in the multifamily sector.

“Over just the past couple of years, millennial demand created a new multifamily asset class called co-living spaces, which function more like dorm living than apartment living where an individual rents his or her own private bedroom but shares common spaces like the kitchen and living room with other renters,” says Bechtel.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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