URFPA: Now a speculative buy, page-53

Volf, you are missing the whole point.
These are high quality residential properties. By definition they will have very low yields.

Fair enough making the point that yields will be low, but that's because of the underlying asset class.
Nothing to do with the investment vehicle anymore.

So the first question a potential investor must ask:
'Are they looking for exposure to US residential property?'

If yes: then URF now represents a good opportunity.
If no: then URF is not the right kind of investment vehicle.

Some investors invest on a diversified asset allocation basis, in which case residential investment might comprise a proportion of that allocation being 'alternative assets'.