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Volume 4 - Number 23 | November 14, 2006
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TOP STORY: Multifamily Top Pick for Investment in ’07
By Sule Aygoren Carranza
Apartments are once again the number one sector in which to invest for return potential, according to PricewaterhouseCoopers LLP and the Urban Land Institute. In their Emerging Trends in Real Estate 2007 report, unveiled at ULI’s fall meeting last month, the firms note that bullish trends for the sector are allowing owners of multifamily product to increase rents along with occupancies. For buyers, cap rates will begin to rise slightly, since condo converters will no longer push prices up and eventually compress cap rates to unsustainable levels.
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Triple Net Hires Team to Lead Apartment Group, REIT
By Sule Aygoren Carranza
Triple Net Properties LLC has tapped three industry veterans to lead its activities in the multifamily sector. NNN Apartment Group will direct the Santa Ana, CA-based firm’s multifamily tenant-in-common investments, as well as its recently launched NNN Apartment REIT.
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Insider: Pembrook Capital Management's Stuart J. Boesky
By Sule Aygoren Carranza
The former chief executive of CharterMac may have retired a year ago, but that doesn't mean he's exited the financial world completely. Stuart J. Boesky got back in the finance sphere recently with his own real estate investment management firm, Pembrook Capital Management.
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Deal Watch: Core Picks Up 996-Unit Complex
By Danielle Anderson
Core Realty Holdings LLC has purchased AMLI at Riverbend, a 996-unit apartment complex here, from AMLI Residential and a joint-venture partner. Debbie Corson, principal of Apartment Realty Advisors Ohio in Dayton, OH, who brokered the transaction, says there were 10 offers for the complex.
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