Strategies for Multi-Family Real Estate Capital Allocation
AIR
COMMUNITIES
The most efficient and most effective way to allocate capital to multi-family real estate
3 ...with resulting NOI margin advantage compounding over time...
(1)
Same Store NOI Margin outperformance has resulted in ~550 bps cumulative
growth above the peer average since 2016(1)
Compounded Same Store NOI Growth (¹) (Indexed to 2016)
Accelerating NOI growth out of
COVID with 2022 NOI guidance at
the top end of the peer group(1)
2016
2017
2018
2019
2020
2021
AIR Communities
Coastal Peer Avg.
Sunbelt Peer Avg.
132.3
AIR
COMMUNITIES
123.0
Peer Avg.: 117.4
110.1
2022
Midpoint
Guidance
Per company filings. Peers defined as AVB, CPT, EQR, ESS, MAA, and UDR. Coastal peers defined as AVB, EQR, ESS, and UDR. Sunbelt peers defined as CPT and MAA.
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