While the pandemic has destabilized multifamily, investors continue to be bullish on the long-term fundamentals of the asset class. CGI Strategies is among the confident. The firm plans to acquire $500 million in apartment product in the next 12 months, and it has a longer-term goal of increasing its assets under management to $1 billion to $5 billion in the next five years. The housing shortage is among the reasons to have a positive outlook, but it isn’t the only reason.

“CGI is bullish on multifamily for a number of reasons, not the least of which is the fact that we have massive long-term housing shortages and affordability issues in many of the markets we’re targeting,” Michaael DiSimone of CGI Strategies, tells GlobeSt.com. “Another major factor is that we have a generation of younger renters that are more apt to rent longer and possibly buy later than previous generations. Contributing to this is that many have significant personal debt and student loan burdens that will likely make home ownership challenging.  We also can’t ignore the   cohort of renters that are currently living with their parents as a result of COVID. I think it was PEW Research Center that recently reported that the largest number of 18-29 year olds are currently living at home with their parents since the Great Depression. That’s the demand that we want to capture in the coming years.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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