Industrial, Multifamily, Manufactured Housing Sectors “As Hot As Ever”

Industrial, Multifamily, Manufactured Housing Sectors “As Hot As Ever”
drusignola@reit.com
Mar. 29 2021

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Stout’s Jason Krentler says he is generally bullish on REIT M&A in the year ahead, particularly in certain sectors.

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Jason Krentler, managing director at Stout, participated in a video interview in conjunction with REITwise 2021: Nareit’s Law, Accounting & Finance Conference.

Krentler said that in his 20 years working in the industry, the COVID-19 pandemic has been the greatest challenge he’s seen for REITs. During the 2008 financial crisis, he said the industry saw massive hits overnight to most sectors and the hardship was shared across the industry.

“Right now, in certain sectors, certain instances—retail, hospitality, even office—we’re seeing recovery periods that could take several years,” Krentler said. “It’s going to be fascinating to see how quickly human behaviors rebound for the sectors that are impacted.”

Turning to REIT M&A in the year ahead, Krentler said he and Stout are generally bullish, particularly in the industrial, multifamily, and manufactured housing sectors.

“We’re seeing the markets as hot as I’ve probably ever seen them,” he said. “[There has been] large year-over year growth, big demand, and cap rates that are really quite aggressive still on institutional assets.”

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