The REIT has acquired more than $1 billion of properties since its IPO in January 2018.

The facility is close to PA Route 33, I-78, and I-80, the main highways to the ports of New York/New Jersey and the MSAs of New York and Philadelphia.

The properties attracted strong interest and multiple offers, says Marcus & Millichap's David Bradley, demonstrating that the market remains strong while rents keep rising.

With the growth of debt funds, panelists at MBA Cref/Multifamily Housing Convention and Expo 2019 say that what is most important is to find innovative ways to work with its borrowers.