Workforce Housing as a Defensive Play

Scott Cote

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DENVER—Like many in the commercial real estate industry, Scott Cote, executive vice president and co-head of Real Assets at Aegon Real Assets US is fairly confident that a recession, or at least a downturn, is coming—the only question is when. It could be anywhere in the next 19 to 24 months, or perhaps sooner as geopolitical risk creates more downside.

In response, the company evaluated its private strategies and landed on multifamily—workforce housing in particular—as resilient to a downside scenario in the economy, Cote told the audience at the recent 23rd Annual Transwestern Real Estate Forum Institutional Insurance Investors Symposium.