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The report provides signs of both hope and concern for independent landlords.
The share of purchases rose from June through September with many investors regaining their interest in California properties.
The average revenue growth of the eight apartment REITs was 4% during the third quarter.
The 476-unit, twin towers are located close to Downtown Fort Lauderdale.
It's a great segment of CRE, but better keep up because things are quickly changing.
Asking rents declined 0.5% from midyear to the third quarter—the smallest quarterly decline since the beginning of the pandemic.
As many in CRE want a tip on which part of the hot multifamily sector might top out, it seems that fiscal beauty is in the eye of the beholder.
But sublease availability remains a threat.
"If liquidity in the market remains high, these coming maturities should not pose a problem."
The partnership is looking for value-add opportunities in the Northeast.