June 13, 2006 | Vol. 4 No. 12

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Volume 4 - Number 12 | June 13, 2006

TOP STORY: As South Florida’s Condo Market Falters, Some Developers Rise to the Call
By Sule Aygoren Carranza
It’s well known that condominium activity in Florida is slowing, but the impact threatens to be worse than imagined. As proposed projects fail to get off the ground because of lack of financing or stalled approvals, potential unit buyers are left in a jam, often losing all or part of their deposits.

DATA POINTS: As Sales Volume Slows, Investor Composition Changes
By Sule Aygoren Carranza
Sales volume continued to slow in April, with multifamily investment transactions down 23% over April 2005, according to Real Capital Analytics’ most recent report.

DEAL WATCH: Atherton-Newport Grows Seattle Presence With $114M Purchase
By Sule Aygoren Carranza
In its largest portfolio investment to date, Atherton-Newport Investments LLC has brought its Seattle-area portfolio to nine properties. The Irvine, CA-based firm recently paid $114 million to buy and rehabilitate seven communities totaling 1,215 units.

Slowing Home Sales, Restrained Development, Keeps Outlook for Apartments Bright
By Sule Aygoren Carranza
While some key macroeconomic factors such as slow job growth show a mixed outlook for apartments, increasingly unaffordable single family homes have helped to boost demand for multifamily rentals, according to a report released last month by Bank of America.

San Diego Sales Activity Continues to Decelerate, Says Burnham
By Sule Aygoren Carranza

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