
Apartment REITs Deepen Bets on Mid-Tier Cities
The migration of thousands of apartment dwellers from New York, Los Angeles and other major cities to cheaper alternatives in the suburbs or lower-cost areas like Denver and Phoenix during the pandemic is spurring major multifamily developers and investors to follow the renters. Executives at some of the nation’s largest real estate investment trusts said this trend either catalyzed their intent to invest in, or bolstered their commitment to, one region in particular: the Sun