A dozen major multifamily owning REITs found coal in the stocking at year's end, according a data analysis from Trepp.
"The major apartment-owning REITs, 12 companies with 544,142 units, reported an average 0.63% decline in occupancy in the fourth quarter when compared with a year ago," the analysis noted. "Meanwhile, average rents for the 12 companies increased by 0.04% from the third quarter, outperforming the 0.17% national average decline during the period.
The overall results mean that the REITs in question problem lost revenue between September and December 2022.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
