Reis, Inc., a company that provides commercial real estate market information and analytical tools, announced the addition of 100 universities to the company’s student housing coverage, doubling the number of colleges and universities for which Reis offers comprehensive market and property level intelligence.
“Reis’s doubling of coverage, merely months after our introduction of the sector, comes at a time of heightened interest in student housing as an investment option,” said Reis’s CEO, Lloyd Lynford.
“By applying Reis’s time-tested methodology to yet another vibrant sector in need of objective and quantitative rigor, Reis brings transparency to the market, contributes to transaction efficiency, and ultimately helps to enhance capital flows.”
The expansion is responsive to Reis’s clients and prospects who seek to understand local standards for important variables.
Reis’s student housing offering complements the seven other property types Reis monitors including: apartment, office, retail, warehouse/distribution, flex/research & development, self-storage and seniors housing.
The company offers a full suite of property and market level reports for all of these CRE sectors.
Bill Sander, president and COO of Reis Services, sees the release as a continuation of a now long-established tradition.
“In the past two years alone,” said Sander, “we have introduced major product enhancements, such as our Executive Briefing reports at the metro, submarket, and property level, while also adding 110 Seniors Housing markets and translating our flagship product into six major languages.
“This latest release of additional student housing markets demonstrates our commitment to continued product development that will place even more distance between Reis and the competition.”
The student housing sector has been attracting investment at a rapid pace over the last few years.
Both 2013 and 2014 brought record amounts of new supply to the sector. Approximately 124,000 beds were delivered across the nation in a very short period of time, which raised concerns regarding potential oversupply. However, according to multifamily data and research firm Axiometrics, Inc., that pace has slowed to approximately 48,000 new beds expected in 2015.
This year’s estimated 48,000 bed delivery is approximately 75 percent of the number of beds delivered in 2014, a record year for student housing supply throughout the country.
The reduction in beds delivered should increase both occupancy rates and rent growth.