MHN’s September 2020 Must-Reads

3 min read

Catch up on our most important stories, interviews and analyses for last month.

As the additional $600 a week unemployment benefits expired, more residents struggle to pay their rents, with 76 percent making rent payments as of September 6, according to the National Multifamily Housing Council. However, since the latest figures were pulled from more than 11 million rental units, they do not reflect a large swath of the multifamily market that has been hit the hardest by COVID-19. Additionally, multifamily trade groups and advocates are worried about the cascading effects of falling rent payments.

President Trump announced a nationwide eviction moratorium that will expire at the end of the year, with the Centers for Disease Control and Prevention quickly enacting the emergency order, citing the risk to public health. Yardi Matrix’s Paul Fiorilla argued that, while the ban ended fears of an immediate wave of evictions, it only postpones an inevitable problem if current unemployment rates persist and federal aid remains stalled in the U.S. Senate.

Student and senior housing are the two most affected property types within the multifamily market, with the two sectors witnessing rising vacancies and falling rents in the second quarter, according to Moody’s Analytics. Preferred Apartment Communities has exited the student housing sector by selling an eight-property portfolio to TPG Real Estate Partners. To understand the changes brought about by the pandemic to student housing investment, we reached out to industry experts to discuss the new models favored by the commercial sector. As for senior housing, the pandemic has forced a number of design changes that seem here to stay. In addition, we talked with Brookdale Senior Living’s Lucinda Baier about how the company adapted to the novel challenges of the virus. And, at a conference held by Argentum, executives at three real estate investment trusts discussed pandemic responses and partnership options.

Here are MHN’s must-reads for last month:

10 Fastest-Growing Multifamily Property Management Companies of 2020

The Top 10 Fastest-Growing Multifamily Property Management Companies of 2020 utilized self-reported data for all firms.

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5 Questions for Fannie Mae’s Doug Duncan

The GSE’s chief economist discusses the economic outlook, the multifamily sector and the impact of COVID-19.

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Apartment Jobs Report August 2020

The latest edition of NAAEI’s Apartment Jobs Snapshot tallies more than 14,600 available positions in the multifamily sector.

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How COVID-19 Is Impacting Rental Housing

New reports show the influence of the pandemic on various apartment classes and metros across the country.

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Multifamily Roundtable: Fewer Deals But Little Distress

Six months into the global pandemic, MHN convened multifamily executives to discuss how the property type is holding up under various pressures.

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NYC’s Multifamily Design: Outdoor Spaces to Take Center Stage

Architects Mark Stumer and Adam Meshberg on designing multifamily units in New York City and how the pandemic has impacted the process.

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Aimco Spins Off $10.4B ‘Pure’ Investment Entity

The new company, Apartment Income REIT, will benefit from low financial leverage and limited execution risk.

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Investment Conditions Dip in Q2, Freddie Mac Finds

The pandemic has shrunk the pool of attractive investment opportunities, yet several key metrics have improved year-over-year.

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