•As a result of a strong Class A market, investors’ appetite for core product elevated in 2018. Out of the $648.5 million invested in the District YTD, 50.3% of the projects traded were Class A with an average age of 2012.

•Class A vacancy remains unchanged year-over-year (YOY) at 4.7%, despite the addition of 3,346 units since Q3 2017. Class B vacancy edged up 1.0% YOY, ending Q3 2018 at 3.9%.

•The largest delivery in Q3 2018 was Wood Partners’ project in NoMa, The Belgard. The 346-unit project is currently 25% leased and averaged 25 units absorbed per month since it began leasing in July 2018.