Acquisitions have been slow at Adaptive over the past few months.
And it’s not by choice… prices in our core neighborhoods in 2018 have generally run way out ahead of rent growth, taking our forecast unlevered yields down to levels we don’t find appealing.
However, recently, we have identified a few areas where the equation is swinging back into alignment, driven by a combination of price reductions and rent growth.
So, we’ve begun making some offers… and I’ve got a new spring in my step.