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The pandemic has put a strain on midsized real estate companies like Acumen Cos. that own urban apartments, as they have seen vacancy rise with young professional tenants moving home or fleeing to the suburbs.
Acumen Cos. Chairman Abiud Zerubabel, whose firm owns about 1,000 apartments in D.C., Maryland, Virginia and Los Angeles, said his portfolio experienced a sharp increase in vacancy in May, June and July as its predominantly millennial tenant base moved out. He decided to use this difficult situation as an opportunity to…
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