Impact Investor Bobby Turner On Keeping Rents Down While Driving Yield
In this series, Make Yourself At Home, we are hearing from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes and Spotify.
In this episode, we hear from Bobby Turner, the CEO of Turner Impact Capital. The social impact firm has more than $3B in investment potential, which it is aiming to use to address some of the country's biggest problems through real estate.
Turner is speaking here about how the company has kept rents down while also generating yield and creating communities where there is “pride in rentership.” In the company’s rental portfolio, he said the approach has led to increased lease terms, fewet incidents and net operating income growth.
“I think this crisis will confirm the thesis that the underlying demand for community-enriching infrastructure is huge, it’s growing and it is less correlated to the broader market indices and economic conditions,” he said.
“Think about what’s happened to demand for retail space, for office space for hospitality — and then think about the demand for affordable housing, community-serving healthcare, K-12 education … Investing in densely populated, ethnically diverse communities is smart investing."