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Volume 3 - Number 25 | December 27, 2005
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TOP STORY: Impact of 'Shadow' Market Could Curb Multifamily’s Upswing
By Sule Aygoren Carranza The impact of the condominium market could have a more detrimental effect on the for-rent segment in coming years as buyers of those units, particularly investors and speculators, offer the apartments as rentals, warns Gleb Nechayev, senior economist for locally based Torto Wheaton Research.
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INSIDER: Madison Apartment Group’s Joseph F. Mullen
By Sule Aygoren Carranza Completing its entrance into the Houston market, BPG Properties Ltd. has recently closed on the acquisition of seven properties totaling 1,024 units from Landar Holdings LP for $30.12 million. The transaction completes the two-stage acquisition of a 15-property, 2,054-unit portfolio that began in September.
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DATA POINTS: Apartment Investment to End 2005 With Another Record
By Sule Aygoren Carranza For the first time in two years, multifamily sales volume dropped on a year-over-year basis, according to the December 2005 Apartment Capital Trends. However, its too soon to call it a trend, says locally based Real Capital Analytics.
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