Florida Bulk Condo Sales Accelerate
Wall Street Journal reports: Commercial real estate research firm Real Capital Analytics, which follows condo sales nationwide, tracked 27 bulk condo deals valued at $850 million, or $250,000 per unit, in 2007. Transaction volume dipped the following year, then rose to 82 deals valued at $839 million in 2009.
Dan Fasulo, managing director at Real Capital Analytics says "I would think we're on pace to have a record year for these types of transactions."
It isn't just Florida. Brokers say bulk-sale transactions are becoming more widespread in San Diego, Phoenix, Las Vegas and other markets in which condo projects mushroomed during the housing boom.
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Posted by: Matthew Stone