1315_Nareit Testimonial Oberste_2023-06-20_V2
06/29/2023
| by
Nareit Staff
Dan Oberste, president and CEO of BSR Real Estate Investment Trust (TSX: HOM.U, HOM.UN), participated in a video interview at Nareit’s REITweek: 2023 Investor Conference, held in New York June 6-8.
Oberste discussed how the REIT’s millennial and Gen Z tenant base shapes BSR’s overall strategy, whether BSR has completed its work with regard to increasing its exposure to primary and growth markets, as well as some of BSR’s key priorities for the rest of 2023.
During the interview, Oberste noted that:
- BSR’s properties are young, highly-amenitized, with large floorplans. That product “really plays well” to both millennials and Gen Z, which together make up the largest cohort of BSR’s tenants.
- BSR focuses on garden style, walk-up properties in suburban corridors around Dallas, Austin, and Houston. “That location serves anyone from the age of 18 to 65, but particularly our 27-year old Gen Z and our 43-year old millennial.”
- “We will look to grow in our current markets as well as other markets that exhibit very similar fundamentals, in the near, medium and long term.”
- BSR will continue to repurchase its shares as long as the company remains trading at “such an incredible discount.” This is currently the “highest and best” return on investment for the company.