Western Investor: Residential Reits – Hungry, active, and Leading the Pack
[vc_row][vc_column width="1/2"][vc_column_text]Residential Real Estate Investment Trusts (REITs) are leading the REIT sector this year and apparently see opportunity in the Metro Vancouver market that has spooked most residential investors and developers.
The strategy of investing in income-producing residential real estate is apparently paying off. A Bloomberg survey released August 15 showed that the average year-to-date return for REITs involved in the residential sector was 18.6 per cent, blowing past projections of 6 per cent year-over-year yields for the entire REIT sector.
Frank O'Brien at the Western Investor recently reached out to Lance Coulson of the National Apartment Group - BC to discuss the sale of the Point Apartments and the Meridian Apartments, both of which were sold to CAPREIT, one of Canada's leading REITS which has been rapidly acquiring new purpose-built rental apartment buildings in Metro Vancouver.
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September 9, 2019