Eager Buyers Snap Up Pre-Stabilized Rentals
Real Estate Alert - March 17, 2021
New apartment buildings that are still in their initial lease-up phase are suddenly in vogue. Investors are bidding up prices on “pre-stabilized” multi-family properties — those that were completed less than a year ago and haven’t yet reached 90% occupancy. Market pros attribute the surge in demand to the vast amount of capital pouring into the apartment sector, encouraging news about the pandemic and the economy, and the availability of low-cost debt.