Opportunities in Moderate Income Rental Housing

Opportunities in Moderate Income Rental Housing

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William Pattison Michael Steinberg Derek Tong Jacob Kurosaki
OCT 18, 2022

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Over the past several decades, the residential rental sector has grown from relative obscurity to become one of the largest and most important institutional investment asset classes. The sector offers a wide range of investment options, including:

  • Risk profiles – as low risk as first-lien mortgages to as high risk as ground-up development.
  • Housing formats – from class-A high-rise apartment to manufactured housing communities, and everything in-between.
  • Geographies – institutional residential investors are now active in over 50 cities across the U.S.

In recent years, investors have also begun considering how the income profiles of residents could shape investment strategies. Looking at strategic opportunities in the sector, we believe Moderate-Income Rental Housing offers attractive long-term risk-adjusted returns while supporting the need for more affordable housing in the U.S.