REITs Binge on Multifamily

REITs Binge on Multifamily

REITs bought $1.5 billion in apartment properties in the first three months of this year   REITs bought apartment properties in the Sunbelt and the South, including more than $100 million in apartment properties in Dallas, Atlanta and Los Angeles   Top markets for sales for multifamily REITs include the New York metro area, Portland, Ore., and South Florida

Despite high prices for apartment properties, REITs are on a buying binge. They are finding value in mergers that offer them efficiencies that put a strong hold on their markets. They are also looking at market and regions where property prices aren’t so high compared to the income from the properties.

“Yield and upside have multifamily REITs moving towards the Sunbelt and the Heartland,” says Brady Titcomb, research director, for U.S. multifamily fo

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