PHOENIX—A return of the traditional investor may have helped keep the multifamily market active in 2013, especially in the apartment sector. Also helping, distressed properties that flooded the market from 2008-2011 have diminished substantially.

GlobeSt.com spoke with Jim Crews, multifamily expert of Cushman & Wakefield of Arizona to get his take on the change in the market—apartment buildings in particular. Cushman & Wakefield of Arizona's multifamily group ended 2013 on a high note, closing 3 deals worth $26.5 million.

"If you go back to '08 and '09 you have more kind of distressed assets and even lender-owned properties, people were making their investment decisions based on whether it's a good buy based on price per unit or price per square foot," says Crews.