Multifamily REITs Are Once Again in Acquisition Mode
December 10, 2019 | Bendix Anderson | National Real Estate Investor
Multifamily REITs have shown more appetite for new acquisitions this year.
“REITs have very much returned to the market,” says Andrew Rybczynski, senior consultant at research firm the CoStar Group.
After years of counting their pennies, REITs are once again major bidders for apartment assets. With their stock prices on the upswing, multifamily REITs are using the extra money to expand their portfolios. However, their overall acquisition volume is still below the levels seen earlier in the recovery.
“Any of these companies, if you ask them, they would love to buy more,” says Jon Miniman, portfolio manager with CBRE Clarion Securities. “They are trying to be disciplined from a buy perspective.”
