Unit occupancy growth was up 330 basis points for the second quarter 2011 over the second quarter 2010 and net operating income for the second quarter of 2011 increased 13.6 percent over the second quarter of 2010.
Not exact matches
Supply has ramped up in several markets, and industry experts anticipate that the new
units will affect
occupancy and rental rate
growth, limiting owners» ability to raise rents and increase net operating income (NOI) at the same impressive levels.
While top - end
units generally influence rent
growth in Memphis, the large block of lower - tier
units hold back the metro's
occupancy rates.
«There's a bit of softness that we're seeing in terms of independent living
occupancy and revenue per occupied
unit or what we like to call REVPOR
growth,» said Dr. Lawrence Horan, financial research and analysis director for NIC.
As we do with all factors surrounding potential acquisitions and our existing portfolio, we analyze development trends very carefully, looking at
units under construction in the overall market, the sub-market as well as the overall
occupancy, penetration and
growth within the markets.
«You don't want to confuse rent
growth,
occupancy or architectural attractiveness with the top markets for investments,» warns Jeffrey Friedman, chairman, president and CEO of Associated Estates Realty Corp., a Richmond Heights, Ohio — based apartment REIT with a portfolio of 52 properties containing 13,950
units in 10 states.