The companies say they will add value through a leasing strategy, building enhancements and the future ground-up medical office component.

Investors may be able to tap creative financing to mitigate the impact of these new rules.

The area is a somewhat unique multifamily market in that it is experiencing robust employment, income and demographic growth, but has not been oversaturated with Class A multifamily development, says Hunt's Chad Hagwood.

With a Coronavirus threat putting so much at stake, employers want to know how to keep their businesses operating, while meeting the changing needs of their key stakeholders.

In general multifamily market capital remains very liquid, says Aztec Group's Peter Mekras.

Politicians want to look as though they are addressing the problem, and rent control is an off-the-shelf policy tool that helps some renters, at least in the short term.

"It's a trend we are seeing across the market in buildings that are located in prime locations."

More than 22 million people in the US live in manufactured homes as these homes are the least expensive kind of housing available without a government subsidy.