As the multifamily sector continues to showcase its resiliency during an economic downturn, one asset type is outpacing the rest in Houston: Class-B apartment communities.
“The great thing about being in the B space is, when times get hard like they are, A falls into B. So they’re looking for that renovated B product that we have on the market,” Rockstar Capital Director of Operations Ian Douglas said during a Bisnow webinar Sept. 22.
“We really fall in that sweet spot of when times are good, people move into us; when times are bad, people move into us. So it really plays out that we do well, either way it goes.”
Class-A multifamily developments in Houston have suffered on both the occupancy and rent fronts in 2020, according to ALN Apartment Data Market Analyst Jordan Brooks. That’s partially due to new supply coming online and because in the wake of