| 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. |
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