Our core thesis is rooted in the long-term trends demographic and macroeconomic trends driving the Multifamily sector. Within multifamily, Class B and C properties provide some of the most attractive risk-adjusted returns due to the imbalance between the strong and growing demand and limited new supply of these units.

Further, delays in life events like marriage, children and homebuying are driving an already growing renter population that is underpinned by the two largest generations in history (millennials and baby boomers). With home ownership near all-time lows due to limited savings, rising interest rates, and large debt overhang, we firmly believe these trends will continue.