Jun
01
Major Landlord Sends Warning About Rental Markets in NYC, San Francisco
By-
Apartment landlord lowers 2016 forecast for a second time
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Revenue growth expected to be as much as 4.5%, down from 5%
Softening apartment rents in New York and San Francisco have forced landlord Equity Residential to lower its revenue forecast for the second time this year, as newly signed leases aren’t meeting the company’s expectations.
Equity Residential said it expects revenue growth from properties open at least a year to be no higher than 4.5 percent this year, according to a statement Wednesday. The reduction follows one made in April, when the Chicago-based real estate investment trust set the upper limit at 5 percent, down from a previous estimate of 5.25 percent…
Major Landlord Sends Warning About Rental Markets in NYC, San Francisco
