We are pleased to send you Alignvest Student Housing Real Estate Investment Trust’s (“ASH REIT”) Q3 2022 Management Report.
We are excited to have completed our September 2022 leasing season with record high occupancy of 99.9% across our portfolio. As of today, we only have four vacant beds across our entire privately-managed portfolio. We are also very pleased to have achieved an average net effective rent increase of 13.2% compared to September 2021.
Student housing continues to provide strong protection against the high inflation that we have been experiencing for several months now. In 2022, we turned over of 55% of our beds, resulting in the opportunity to close the gap-to-market on rental rates on these beds. With the remaining beds expected to turn over next year, we still have substantial upside ahead of us. Student housing offers a significant advantage compared to multi-family and other real estate sectors, which traditionally experience much lower turnover, especially in inflationary periods.
Below is the link to our Management Report. Please contact us if you have any questions or need additional information.Management Report