But not all sales wthat Weaver alludes to were traditional apartment sales. With multifamily units going back and forth between their incarnations as rentals and for-sale product, the lines between these two categories have become blurred in recent years.
Weaver notes that there were two types of multi-housing sales in 2009 in South Florida, traditional Class B assets and fractured condominium conversions. About 60% of the deals were traditional and 40% were in the latter category, he says.
In any cases, Weaver believes that this is a good time for investors to buy multifamily properties of various stripes. Although there haven't been a lot of sales yet, he says, there are more buyers than sellers looking for multifamily units in South Florida to buy.
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