April 8, 2016 Comments Off on Large Transactions, Portfolio Buyouts Highlight MF in 2015 Views: 410 California News, National News

Large Transactions, Portfolio Buyouts Highlight MF in 2015

Demand for multifamily units and properties intensified in 2015, leading to big transactions and huge renter demand, according to the National Multi-Housing Council NMHC 50 2016 report. Metrics included national absorption of 260,000, occupancy at 95.9%, and starts numbering 380,000.

The NMHC, relying on statistics from Real Capital Analytics (RCA) data, showed apartment transactions at an all-time record of $150 billion. Total number of units sold – 1.2 million – also hit a record high. The average sales price per unit was another record at $136,130, while the cap rates dropped to 5.9%.

Large buyouts also made news. Lone Star Funds acquired Home Properties for $7.2 billion, Clarion bought Gables Residential, and Brookfield Asset Management acquired Associated Estates. In the works: Blackstone’s acquisition of Greystar Real Estate Partners’ portfolio, expected to close sometime this year.

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