Although it recently showed some cooling off and is influenced by the volatile economic environment, student housing remains a hotspot for investors. Tier 1 institutions have kept their strong fundamentals, including high preleasing rates, despite an overall decrease in rent growth. Several headwinds, such as construction slowdown and affordability, still pose challenges in the sector, but student housing remains high on investor appetite and has shown resilience in the face of broader multifamily volatility.
In this episode of Student Housing Unlocked, Coastal Ridge’s Co-Founder and & Co-CEO Patrick McBride joins me as we discuss the company’s history from a localized business to a national-scale company that is now present in over 50 markets, mostly focused on institutions in high-growth markets.
Investment success largely hinges on experience, which can significantly influence your overall strategy. McBride offers an overall look at investors’ appetite in today’s climate and shares the lessons that helped him scale the business, along with early-stage risks and affordability pressures. How did three college roommates go from investing in a single student asset to an almost $5.1 billion platform? McBride explains.
Here’s what we touched on: