ATLANTA—The Southeast's multifamily sector is poised to see the highest level of sales transactions since 2005. So says a new report from Jones Lang LaSalle's Southeast Multifamily group.

Vacancy rates are at their lowest point since early 2008 and rents have experienced consistent gains each quarter since 2010. For its part, JLL's Southeast Multifamily group closed nearly $1.2 billion in sales during 2012 on 38 single asset transactions and seven equity raises spanning 16,000 units in Alabama, Georgia, Tennessee, Florida, and the Carolinas.

“Robust rental demand and the significant decline in homeownership kept multifamily demand brisk in 2012,” JLL managing director Derrick Bloom tells GlobeSt.com. “Last year's national multifamily sales well surpassed 2011 levels, with velocity only 10 percent below 2005, and the Southeast is echoing this growth.”