The industry responds to what might be the largest merger in the multifamily industry. "I haven't seen Tishman make too many missteps in its history," is typical of the reaction.

After being in the region's multifamily market for decades, Kushner Cos. is divesting a significant portion of its apartment holdings in New Jersey, Pennsylvania, Delaware and New York.

A joint venture of Federal Capital Partners and New York City-based real estate investment fund Angelo, Gordon & Co. sold and recapitalized a five-property portfolio valued at $405 million.

In an all-cash deal, GE Real Estate picked up a portfolio of apartment communities in Dallas, Atlanta and Austin, TX for $256 million. It's the third portfolio acquisition the firm has made on behalf of the direct investments group of its North America equity division.

While growth in multifamily REITs remains healthy, it is moderating, as is share price appreciation. That's the contention of Bank of America analysts in a recent report on the sector.

Houston—St. Paul Travelers Cos. Inc. has signed a 10-year lease to occupy the first facility to come out of Koll Development Co.'s Intellicenter building program.

The CEOs of three multifamily REITs agree most markets will continue to perform well, although they don't expect 2007 to be a repeat performance of the past year.

PHOENIX-Affordable product is necessary for all types of renters, not just minorities. That's just one of the revelations from last week's NMHC annual meeting here.