Notable Apartment Deals Portray a Sector in Recovery
Multifamily Executive reports: In the latest US Capital Trends, Real Capital Analytics’ analysis of the apartment sector identified $2.6 billion of multifamily properties transacting during the month of August, which was the highest one-month total since 2008. This report, however, was the latest in a series of analyses run by Real Capital over the past three months that yielded positive and optimistic trends in the apartment sector; the first indication of an uptick in apartment sales was detected earlier in the summer.
More recently, a broader consensus has formed on the building momentum currently being observed in the multifamily sector. On September 23, Multifamily Executive stated in agreement with Real Capital that, “The recession is officially over, and happy days are here again. Nowhere is that perhaps more true than in the multifamily space…” The article cited several recent reports released by credible firms of the commercial real estate industry on the subject; each report took a generally positive tone on the apartment sector’s prospects for the upcoming quarter.
The article conveys that multifamily’s momentum has been building for the past two quarters by relying on data originally provided by Real Capital in the firm’s “Mid-Year Review,” which ran in US Capital Trends during the month of July. “Through the second quarter, sales of apartment properties rose to $9.6 billion, up 69.9 percent from the first half of 2009,” quoted the article.
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Posted by: Nina Turner