REIT Stocks Rise Again On Calm Rates, Higher Visibility

Great article from Investors Business Daily on how REITs are bouncing back. While we are not a REIT, Prudent Growth certainly shares many of their fundamentals, so this was an interesting read. We were particularly interesed in the analysis of the impact of the upcoming Global Industry Classification Standard - which will break out real estate into a completely new category of investment. This is going to be a big deal and should increase the amount of money being allocated by large investors into real estate. From the article: The Federal Reserve’s indication in its policy statement this week that fewer rate hikes were likely this year gave another jolt to REIT shares across the board, fr

Opportunity in Value-Add Strategies for Class-B Multifamily Assets

Great article from National Real Estate Investor mag that really reinforces the PGP strategy of acquiring class-B and class-C multifamily properties. We have certainly been finding value in that asset class and could not agree more with the conclusion of this article. From the article: Multifamily developers can capitalize on a huge unmet needin the market by buying and renovating older class-B and class-C apartment buildings. “What is missing in this cycle is the construction of apartments that can cater to people earning the median income,” says David Schwartz, CEO and co-chairman of Waterton, a multifamily developer and manager based in Chicago. “We have an affordability crisis.” Develop

Greensboro apartment rental rates rising

Great article in the local press on the strength - and opportunity - in the Greensboro multi family market. Rents are rising nearly 5% year-on-year, but still lag Raleigh and Charlotte. Just looking at the demographic growth projections in the Triad makes us think that there are some excellent value plays in Greensboro and the surrounding areas. Definitely a "safer" bet than Raleigh is right now... From the article: GREENSBORO — The cost of renting an apartment here is growing nearly as quickly as it is in cities such as Raleigh and Durham. Although Greensboro placed fifth in the state for price growth in February compared with February 2015, Greensboro’s 4.9 percent rent growth was in a v

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