STOCKHOLM (S&P Global Ratings) Oct. 28, 2020--S&P Global Ratings today said that Sweden-based residential real estate landlord Akelius Residential Property AB's third-quarter results are in line with expectations and show minimal damage from COVID-19 fallout. In the first nine months of 2020, Akelius (BBB/Stable/A-2) continued to report positive like-for-like rental growth of 5.3% for the whole portfolio, as well as stable and low vacancy rates of 1.9%, excluding flats unoccupied for renovation. That said, we acknowledge the decline in average rent per square meter on a like-for-like basis for Berlin (-2.2%) and New York (-1.9%). We believe the rent cap in Berlin, implemented in February 2020, is largely behind the contraction in the German capital city. In New York, however,
