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.
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