The single-family rental homesector has been faring well during the pandemic. One sign of the sector'sappeal: J.P. Morgan Asset Management and single-familyrental home REIT American Homes 4 Rent are partnering to invest $625 million in thisspace.
But what about its counterpartasset class of multifamily? Its headline news has been all aboutwhether tenants are paying their monthly rent. So far, they are but many analysts expect defaults to increase asthe economic turmoil continues.
The problem for multifamily isthat its fundamentals are too strongly correlated to job losses forthe sector to be completely resilient to thepandemic, according to comments John Pawlowski, senior analyst of residential at Green StreetAdvisors made during a recent webinar the companyheld.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
