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Prior to March 2020, co-living properties were rising in popularity, offering a 30% discount on gross housing costs on a per-lease basis. At the same time, operators generated 15% higher NOI than the industry average due to increased density. And as renters look for more affordable housing options, co-living will likely garner increased demand post-pandemic, according to a co-living report from Cushman & Wakefield. As a result, most industry experts believe the overall valuation impact has been less severe for co-living properties than for multifamily. Indeed, the sector was outpacing multifamily valuations pre-pandemic and seems poised to continue.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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