One year ago, COVID-19 upended the commercial real estate industry, including the revered multifamily sector. Throughout the past year, the sector's professionals have dealt with unpaid rents, shifting valuations, changes to underwriting requirements and more.
During the pandemic, residents' priorities, demands and desires shifted. As work-from-home policies stayed in effect, residents were granted the ability to freely choose where they live, and many Americans made the decision to relocate from densely populated areas to suburban life.
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