Citymark Capital Hosts Fourth Annual Investor Summit

Citymark Capital hosted our fourth Annual Investor Summit on June 3rd. Although we wish we could have been with everyone in person, we had over 150 people join us for our webcast.

During the Summit, we provided a deep dive on our investments and also welcomed leading national apartment economist, Jay Parsons, for a detailed update on the national multifamily market. Jay presented his opinions on how key themes have changed or been reinforced across the US apartment landscape through the COVID-19 crisis including:

• Apartment revenue streams perform relatively well in a downturn, as market-rate renters are economically better off than the average US household
• Class B to A- is best insulated, as new supply continues to hit the A/A+ space and affordability issues linger in class C
• National rent collections are strong at 93.3% collected through May 27th per NMHC tracker
• May retention at a historical high of 58%, with new lease volumes on par or up in most of the top metros
• Apartment demand has been better than expected despite COVID-19, and the market still has significant tailwinds at its back

Citymark’s investment strategy is designed to provide access to housing investments which we believe will perform well during periods of economic growth and provide downside protection during economic contractions.

For those who were unable to join us, we missed you and hope we will see you next year. If you would like access to the Summit materials or more information regarding Citymark, please reach out to Matt Porath ([email protected]) or Dana Banda ([email protected]).

This is not an offer or solicitation. The general information discussed is not a guarantee, prediction, or projection of future performance. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in real estate does carry the risk of loss to your investment.  Views and opinions expressed by Jay Parsons are not necessarily endorsed by Citymark nor can Citymark guarantee or ensure the accuracy of the information provided.