Bruce,
In commercial real estate, there's an optimal time for everything. Global institutional players are bullish on multifamily, and CrowdStreet Advisors' stance is clear. We believe now is an optimal time to invest in residential real estate. We recently launched our own flagship Build-To-Rent and Multifamily Fund to capitalize on the ever-growing demand in the residential real estate sector. With a strategy built to hedge against inflation, the Fund will seek a balance of income and appreciation by targeting strategic assets in the nation’s fastest-growing tax-advantaged cities and states.
Now see what others have to say:
Why Build-to-Rent?
Wall Street Journal
Blackstone Bets $6 Billion on Buying and Renting Homes
“...The investment firm [Blackstone] is turning even more bullish on U.S. housing,...rejoining an expanding roster of Wall Street powerhouses that have acquired single-family rental companies. Canadian property giant Brookfield Asset Management Inc. recently acquired a stake in a landlord that owns more than 10,000 U.S. homes. J.P. Morgan Asset Management and Rockpoint Group LLC also have made big investments in single-family rental operators.”
“Many analysts say that with home-price gains showing little sign of easing, rents can continue growing throughout the U.S. as would-be home buyers are priced out of the sales market and are compelled to keep renting.”
CNBC
Rents for Single-Family Homes Just Saw the Largest Gains in Nearly 15 Years
“...With home prices hitting record highs, demand for single-family rental homes is soaring - and so are the rents. Single-family rents were up 5.3% year over year in April, rising from a 2.4% increase in April 2020, according to CoreLogic. That is the largest gain in nearly 15 years.”
“With home prices continuing to gain at a double-digit pace, and more potential buyers being priced out, demand for single-family rentals is unlikely to cool anytime soon.”
Why Multifamily?
CoStar
‘Everyone’s Rushing In’: Global Investment Firms Expand US Apartment Buying Surge
“The amount of investors pouring into the apartment industry is ‘unheard of,’ said David Kahn, director of market analytics with CoStar Group.”
“Kennedy Wilson, an investment company based in Beverly Hills, California, is launching with an undisclosed institutional investor a $1.5 billion multifamily platform. The joint venture was announced hours before Canada’s Ivanhoe Cambridge [a subsidiary of Quebec’s largest pension fund], announced its own partnership with Los Angeles-based Mount Auburn Multifamily to acquire ground-up multifamily developments throughout the United States.”
“One of the most significant efforts in recent months came from Washington Real Estate Investment Trust, which is selling almost all of its office properties as it accelerates its plan to transform itself into a firm that focuses exclusively on multifamily real estate.”
Wall Street Journal
U.S. Housing Market Needs 5.5 Million More Units, Says New Report
“To shrink the supply deficit, builders would need to exceed the long-term historical average pace of 1.5 million units a year, according to the NAR report. At 2.1 million units a year, near the level reached in 2005, it would take a decade to close a gap of 5.5 million units, the report says.”
“NAR is calling for a suite of policy responses to increase housing supply, including expanding the tax credit program for low-income rental housing, encouraging renovation of distressed properties, and offering incentives to cities and states to reduce regulatory limits on housing density. The association also supports converting commercial buildings for residential use. Some of these ideas were included in President Biden’s infrastructure proposal.”
Interested in investing in the build-to-rent and multifamily strategy? Submit an offer for one of the final seats left in CrowdStreet Advisors’ Build-to-Rent and Multifamily Fund, Series I. Investments accepted in the order in which offers are received and funded.
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Investments in the Fund are illiquid. Read the Fund’s private placement memorandum carefully before investing. It contains the Fund’s investment objectives, risks, charges, expenses, and other information which should be considered carefully before investing. Obtain a private placement memorandum here.
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