Equity Residential: Better All the Time
Want to get a jump-start on upcoming deals? Meet the major Boston players at one of our upcoming events!
|We headed over to REITWorld at the Waldorf-Astoria in New York this week where we learned that Equity Residential increased occupancy 4.5% to 5% year-over-year while increasing rental rates and occupancy (100 bps). That's according to David Neithercut, with Fred Tuomi, and Mark Parell. Even asking rates are up 8% over the same period. With 900k new households this year, the REIT's capture rate is high. Fred says EQR's Boston, NY, and DC portfolios are 96% occupied. NY rents are up 11% and premium pricing for penthouses is coming back. They're seeing slower recovery on the West Coast.|