Effective rents are up or not changed in all markets and occupancies have risen in 73% of the markets ARA monitors when compared to last quarter. Just 15 months ago they reported that “23 out of 24 markets had decreasing effective rents” and “occupancies are unchanged.”
“Existing product offered for sale is bringing many, many qualified offers. More buyers are focused on Year 3 cap rates rather than a going-in target; sort of a replacement for the rent trending dinosaur. Developers, often public REITs with owned land, are targeting new construction in markets like NY, DC and Southern California where acquisition discounts to replacement cost are disappearing.”
See the quarterly update: Click Here
Learn more about investing: Contact Us







