In the 3rd quarter, there were 64 regular apartment sales (10+ units) and four broken condo sales, similar volume to recent quarterly sales.  Two properties, Orange Arbor (164 u) and Pierson Place (28 u), both located in central Phoenix, reverted back to the beneficiary at trustee sale.  There were no 3rd [...]

The appetite for buying investments remains quite strong, but the number of apartment sales decreased a bit from previous quarters due primarily to a shrinking supply of product. In the 1st quarter, there were 50 regular apartment sales (10+ units) and three broken condo sales. There were no apartment communities sold [...]

In the 4th quarter, there were 60 regular apartment sales (10 or more units) – similar to each previous quarter in 2011. Of these, half sold for more than $1M and 33 of the 60 were “all cash”. The 27 sales that had financing were mostly from new loans or restructured [...]

Apartment sales in the 3rd quarter were similar volume to recent quarters with 61 regular sales (10+ units), three multi-property (portfolio) sales, seven partial condo sales, and six 3rd party trustee sales.  Of the 61 regular sales, 37 had new financing, seller or existing lender financing or assumptions of existing loans [...]

Apartment sales continued with strong activity – similar to the past four quarters.  For the 2nd qtr., there were 59 regular sales (10+ units), six multi-property (portfolio) sales, two partial condo sales, and four 3rd party trustee sales.  Of the 59 regular sales, 35 had either new financing or assumptions of [...]

The rebound of the apartment market has started.  Sometime mid-to-late 2010 was likely the bottom.  With five consecutive quarters of declining vacancy rates and a steady increase of savvy investor pressure pushing up prices, our market is poised for continued growth.  Combine this with the lack of permitting for new apartments [...]