Sam Zell’s Equity Residential has tried to maintain occupancy rates since the pandemic swept the nation, but despite efforts, the company’s year-over-year net income declined by 15 percent in the second quarter. On a Wednesday earnings call, the real estate investment trust’s CEO Mark Parrell acknowledged the unprecedented climate the rental apartment industry has faced since March, in which renters have lost jobs or fled the hardest-hit urban cores. But in his statement, he emphasized
source https://therealdeal.com/2020/07/29/sam-zells-equity-residential-hit-by-15-profit-decline-occupancy-drops-in-urban-portfolio/
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