$603B worth of apartments lie in Hurricane Ian’s path
$603B worth of apartments lie in Hurricane Ian’s path
Abstract
$603 billion worth of apartments are in Ian’s five-day path forecast by the National Hurricane Center. Of that, $10 billion of apartment properties may face the storm surge, which is the abnormal rise of water generated by a storm above the predicted astronomical tides. An estimated $1.5 trillion worth of commercial real estate buildings are also in Ian's five-days path. MSCI only includes institutional-level assets. The Texas Apartment Association has a massive checklist. “We have a complete protocol concerning storms that is managed by our emergency management team. We have a major checklist that properties go through prior to a storm,” said Steve Hallsey, executive vice vice president of operations for Wood Residential Service.