A year ago, student housing as an asset class was viewed as one of the more problematic in view of the COVID-19 pandemic. For New York City-based DMG Investments, though, it has proven to be anything but problematic.
In the video above, Christian O’Lone, VP of asset management at DMG Investments, tells Connect Media CEO Daniel Ceniceros how his company has grown the student housing side of its platform—which posted impressive metrics on occupancy and rent collection during the pandemic—over the past year. First order of business was to mitigate the spread of the virus at DMG’s own communities, which now run to nearly 2,000 beds.
As 2020 progressed, O’Lone said, “we turned our attention to the business side, and how we could turn this into an opportunity, specifically on the acquisition side and development.”
And development most certainly represents an opportunity in the student housing space, especially in markets outside the largest college towns. “Student housing as a customer class is still vastly underserved throughout the country,” said O’Lone.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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