HOUSTON—Total nonfarm employment in the Houston-Woodlands-SugarLand Metropolitan Statistical Area stood at 3 million in January2019, up 83,800 or 2.8%, from one year earlier, according to arecent report by the US Bureau of Labor Statistics. During the sameperiod, the national job count increased 2%. Stanley W. Suchman,assistant commissioner for regional operations, noted that amongthe 12 largest metropolitan areas in the country, Houston rankedthird in the number of jobs added during the year and tied forsecond with Dallas in the annual rate of job growth.
It's no wonder, then, that multifamily continues to dominatecommercial acquisitions in the region, and indeed, in much of Texas. Those statistics point to another multifamily transaction which marks the seventh property in theHouston metro and first Houston-area acquisition in 2019 forAmerican Landmark.
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