Institutional Real Estate, Inc.

NAREIM Dialogues: Fall 2016

The Institutional Real Estate Inc Sponsorship brochure, Connected-Investor Focused, We connect people, data and insights, sponsorship, events, IREI Products

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Page 25 of 31

NATIONAL ASSOCIATION OF REAL ESTATE INVESTMENT MANAGERS 24 ECONOMIC TRENDS HAVE FORCED WORKERS TO SEEK SUBURBAN HOUSING ALTERNATIVES PARTICULARLY IN THE FIRST AND SECOND RINGS AROUND OUR MAJOR CITIES. WORK-FORCE HOUSING By Andy Sands Managing Director of Multi-Family Investing "WORK-FORCE HOUSING" is a term that is bandied around in the multi-family investment business. Lenders, particularly the agencies, define it as unsubsidized, affordable housing that serves the majority of low to middle-income households. The guidelines are fairly specific and relate to rent relative to median income levels, which varies by area, and property characteristics such as vintage and the level of amenities. Many institutional investors apply a definition that is broader and more flexible, but the objectives are very similar. Peter Finley SVP of Marketing and Capital Raising

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