Sule Aygoren Carranza is also managing editor of Real Estate Forum.
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New York City—The multifamily market's positive fundamentals and outlook, along with the heated investment climate of the past few years, have brought a number of new investors into the sector. Yet in recent months, a new player has emerged and is making its presence felt. Tenant-in-common groups are now making inroads into the apartment market.
"In 2003, we tracked four TICs buying multifamily properties," says Robert M. White Jr., president of locally based Real Capital Analytics Inc. "That grew to 15 in 2004 and 35 in 2005. Already this year, we've tracked at least four new ones in the apartment sector, on top of most of the ones that were active last year. They're becoming more numerous and each one is buying more than last year."
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