Download the PDF version. – When we last wrote about multifamily in our February 2024 REIT Outlook, the story felt simple: a 50-year peak in deliveries, collapsing starts, the Fed nearing the end of its hiking cycle, and a rent recovery on the other side. While the supply call was right, apartment rents have been […]
October 1, 2026
Following a spectacular year of total returns and relative outperformance in 2021, multifamily REITs have underperformed the MSCI U.S. REIT Index (Bloomberg: RMZ). The underperformance for multifamily REITs has been a product of both the macro environment (rising interest rates) and record high apartment deliveries, especially in Sun Belt markets. While the fears are for […]
