Mark Decker Jr., president and CEO of IRET (NYSE: IRET), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Decker explained that IRET’s focus last year was on reformatting the portfolio into apartment assets. This year, the company has three main priorities: demonstrating it can operate well, “which will be key for us,” Decker said; focusing on employees; and developing better analytics around the business.
“We are now a multifamily company—I don’t think that’s well-understood. We’re going to keep getting the word out on that,” Decker said.
Meanwhile, Decker noted that about 50 percent of net operating income (NOI) this year will come from Minnesota and Colorado. While there are scattered pockets of supply pressure, “in all cases, what we’re seeing is reasonable balance” that allows IRET to grow rents and fill homes, he said.
“In general, we feel that things are pretty healthy and pretty in balance,” Decker said.