Historically, commercial real estate has provided the strongest risk-adjusted returns over other investment products, including stocks and bonds, and the real standout performer among the asset classes, in recent years, has been multifamily. Unlike the office, retail and industrial sectors that rely heavily on job growth to support demand, multifamily demand is largely derived from population growth. Additionally, unlike the other asset classes, multifamily fulfills a fundamental human need: shelter. It’s a utility that is immune to the vagaries of the stock market and the economy, which is why, even at the height of the global financial crisis, overall multifamily occupancies never dipped below 92 percent.