Commercial Investment Real Estate

NOV-DEC 2012

Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.

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Apartment Multifamily investors have yield in the crosshairs. by Rich Rosfelder Apartment investors are on the hunt. And they're moving beyond trophy properties into unfamiliar territory in hopes of a rare catch. In 1H2012, secondary markets posted a 38 percent year-over-year increase in mul- tifamily transaction volume, followed by tertiary markets at 23 percent, according to Real Capital Analytics. Major metros saw only a 9 percent increase during that period. What's driving this migration? "It's pri- marily a search for yield," says Ben T ypin, RCA's director of market analysis. Private November | December | 2012 27

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